Pexels.com / SevenStorm JUHASZIMRUS
Pexels.com / SevenStorm JUHASZIMRUS
Illinois’ gross domestic product decreased by an annualized rate of 2.5% in the first quarter of 2022, the 14th worst showing among the 50 states, according to new data from the U.S. Bureau of Economic Analysis (BEA).
The GDP totals for 46 states decreased during that time period as real GDP for the nation fell at an annual rate of 1.6%, according to the BEA’s report. The percent change in the GDP state data ranged from 1.2% in New Hampshire to -9.7% in Wyoming, the agency reported.
Hampering economic activity during the first quarter of this year was the Omicron variant, which led to pandemic restrictions in some parts of the nation and disruptions in business activity, according to the BEA. COVID-19 benefits to citizens and businesses also tapered off during this period, the agency said.
Nationwide, economic sectors such as nondurable goods manufacturing, retail trade, and finance and insurance all contributed to production declines, according to the BEA. Only New Hampshire, Vermont, Michigan and Massachusetts reported GDP increases between the end of the fourth quarter of 2021 and the first quarter of 2022.
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Annualized GDP Percentage Changes in Q1 of 2022
| State | Q4 2021 GDP | % Change in GDP From Q4 2021 to Q1 2022 | Rank (Worst to Best GDP Change) |
| Wyoming | 4.6 | -9.7 | 50 |
| Alaska | 3 | -8.2 | 49 |
| North Dakota | -1.8 | -6.3 | 48 |
| West Virginia | 1.7 | -6.1 | 47 |
| New Mexico | 7.6 | -4.7 | 46 |
| Louisiana | 5.7 | -4.3 | 45 |
| Montana | 3.9 | -3.8 | 44 |
| Oklahoma | 8.1 | -3.7 | 43 |
| Hawaii | 5.4 | -3.5 | 42 |
| South Dakota | 0.3 | -3.5 | 41 |
| Washington | 8.3 | -3.3 | 40 |
| Kansas | 1.5 | -2.6 | 39 |
| Kentucky | 5.9 | -2.6 | 38 |
| Illinois | 5.1 | -2.5 | 37 |
| Arizona | 6.2 | -2.5 | 36 |
| Nebraska | -0.8 | -2.4 | 35 |
| Texas | 10.1 | -2.3 | 34 |
| New Jersey | 7.4 | -2.2 | 33 |
| Pennsylvania | 6.4 | -2 | 32 |
| Utah | 6.5 | -2 | 31 |
| Minnesota | 5 | -2 | 30 |
| Missouri | 4.4 | -1.9 | 29 |
| Colorado | 6 | -1.9 | 28 |
| Alabama | 5.7 | -1.8 | 27 |
| Ohio | 5.5 | -1.8 | 26 |
| Virginia | 6 | -1.7 | 25 |
| Indiana | 5.5 | -1.6 | 24 |
| North Carolina | 7.6 | -1.4 | 23 |
| Connecticut | 7.7 | -1.4 | 22 |
| Delaware | 7.4 | -1.4 | 21 |
| Mississippi | 4.1 | -1.3 | 20 |
| Florida | 7.5 | -1.3 | 19 |
| New York | 4.8 | -1.3 | 18 |
| Iowa | -2.3 | -1.3 | 17 |
| Maine | 6.8 | -1.3 | 16 |
| Tennessee | 9.9 | -1.2 | 15 |
| South Carolina | 6.8 | -1.1 | 14 |
| Idaho | 8.2 | -1.1 | 13 |
| California | 9.5 | -1 | 12 |
| Arkansas | 5.1 | -0.9 | 11 |
| Oregon | 9.8 | -0.7 | 10 |
| Georgia | 7.5 | -0.6 | 9 |
| Rhode Island | 5.3 | -0.6 | 8 |
| Nevada | 7.9 | -0.6 | 7 |
| Maryland | 5 | -0.3 | 6 |
| Wisconsin | 6.1 | -0.2 | 5 |
| Michigan | 5.8 | 0.1 | 4 |
| Massachusetts | 7.8 | 0.2 | 3 |
| Vermont | 8 | 0.7 | 2 |
| New Hampshire | 7.9 | 1.2 | 1 |
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