BEA: GDP Declined in 13 States in 4Q2025

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This morning, the US Bureau of Economic Analysis reported that real GDP increased in 35 states in 4Q2025, but declined in 13 states and the District of Columbia. The biggest gains were seen in the Dakotas, with North Dakota posting an annualized growth rate of 3.8% and South Dakota 3.0%. Minnesota had the third highest growth rate at 2.2%. Economic growth in the Dakotas was principally driven by strong gains in the Agriculture, Forestry, Fishing and Hunting category. In North Dakota’s case, the 4Q growth in that sector of +3.42% represented a substantial snapback from the -2.76 reported in 3Q. DC, Maryland and Virginia led the way on the downside with real GDP declines of 8.3%, 3.3% and 1.8%, respectively, and in each case, a sharp decline in the Federal Civilian category was the principal reason. The below exhibit is from this morning’s BEA press release.  



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