Third quarter Real Gross Domestic Product (GDP) growth rates among Tenth District* states reflect a reversal of the negative trend from the previous quarters. At 3.9% GDP growth in 2019, Colorado was the fastest growing state in the District and third fastest in the US. With major contributing sectors among those more heavily impacted by COVID, Colorado has been slower to bounce back. Given its major housing, construction and population growth, expect Colorado to boom once the U.S. economy returns to full strength.
Though less capable of the highs experienced by more tech-driven states like Colorado, ag- and manufacturing-centric states like Kansas and Nebraska also tend to avoid the negative pull of a sluggish U.S. economy. At 34.3% and 33.2% annualized GDP growth in Q3, Kansas and Nebraska are near the national average.
The fourth and final state in the District derives much of its growth potential from the energy sector. Typically Oklahoma's growth will mirror the demands for oil and gas. With curbed demand resulting from hamstrung commercial and personal transportation, Oklahoma's GDP dropped to 47th in Q3.
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