The metropolitan (statistical) areas used by BEA for its entire series of GDP statistics are the August 15, 2017 county-based definitions developed by the Office of Management and Budget (OMB) for federal statistical purposes. Current-dollar statistics are valued in the prices of the period when the transactions occurredthat is, at "market value." Maps reveal that once there is a concentration of patents granted to inventors in one U.S. county, innovation starts to percolate in neighboring counties. Click on an industry in the color key to highlight them in the map. New York Citys urban core lost 5% of its population from mid-2020 to mid-2022, while San Franciscos lost 6%. An official website of the United States government. Wholesale and retail trade increased 3.2 percent. Hover the cursor over a metro in the interactive map below to see additional details, including the 10-year GDP history for the areas top 2020 industry. St. Louis, MO 63102, Millions of Dollars, Annual, Not Seasonally Adjusted, Millions of Chained 2012 Dollars, Annual, Not Seasonally Adjusted, Thousands of U.S. The trade deficit decreased. Compared to the metros listed above with the highest levels of GDP each accounting for hundreds of billions of dollars of GDP in 2020 the metro areas that had the lowest total GDP in 2020 were Grants Pass, OR ($3.1 billion); Gadsden, AL ($3.0 billion); Lewiston, ID-WA ($2.9 billion); Sebring-Avon Park, FL ($2.7 billion); and, Enid, OK ($2.6 billion). Real gross domestic product (GDP) increased in 312 out of 383 metropolitan areas in 2017 according to statistics on the geographic breakout of GDP released today by the Bureau of Economic Analysis. (December 8, 2022). Each monthly release includes an executive summary on global critical trends and risks, as well as focused insights on the latest national and regional developments. Similar to gross domestic product (GDP), GMP is defined as the market value. Map: Economic Might by U.S. Metro Area. Each section includes one chart detailing the total industry contributions to area GDP and another chart showing the 10-year industry GDP contribution data from 2011 to 2020. Exports dropped 5.4% in the second quarter (after being up 0.1% in the first quarter), while imports were down 7.0% (compared with 6.2% in the first quarter). Language links are at the top of the page across from the title. Join your peersin Atlanta for SSTI's 2023 Annual Conference, where we will focus on strengthening regional innovation economies. Statista assumes no Mapped: The Largest 15 U.S. Cities by GDP - Visual Capitalist Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2023, Quarterly smartphone market share worldwide by vendor 2009-2023, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. In addition to the statistics presented in this news release, BEA also revised GDP by metropolitan area statistics for 20012016. The Statista "Chart of the Day" currently focuses dollars)." Contributions to growth are an industry's contribution to the state's overall percent change in real GDP. Announcing SSTI's 2023 Annual Conference! The bank expects consumer prices to rise by 4.5 to 6.5% this year and for inflation to subside to the 4.0% target in 2024. GDP of the ten largest metropolitan economies in the OECD, 2001-2018. In June, year-to-date returns for the S&P 500 and the Dow Jones were up to 15.9% and 3.8%, respectively. Cities With The Biggest Growth In GDP, Including Industries - Forbes EAL GROSS DOMESTIC PRODUCT (GDP) grew in 267 of the nation's 382 metropolitan areas in 2016, according to statistics released by the Bureau of Economic Analysis on September 20, 2017. A metropolitan area 's gross domestic product, or GDP, is one of several measures of the size of its economy. Real GDP in Houston-The Woodlands-Sugarland, TX was unchanged from the previous year making it the only large metropolitan area not to increase. Real gross domestic product (GDP) increased in 312 out of 383 metropolitan areas in 2017. Get quick analyses with our professional research service. Fed officials also increased the federal funds rate with a target range of 5.25% to 5.5%. Hover the cursor over a micropolitan area in the interactive map below to see additional details, including the 10-year GDP history for the areas top 2020 industry. Business Solutions including all features. As shown in the interactive map below, the industry that accounted for the greatest share of metro area GDP in the greatest number of areas was government and government enterprises (141 metros); followed by manufacturing (118 metros); real estate and rental and leasing (64 metros); educational services, health care, and social assistance (21 metros); and, professional and business services (17 metros). Get quick analyses with our professional research service. List of U.S. metropolitan areas by GDP - Wikiwand Dollars, Annual, Not Seasonally Adjusted, Thousands of Chained 2012 U.S. Jul 12, 2019. Real GDP for the top 50 metropolitan statistical areas in millions of dollars Wikiwand is the world's leading Wikipedia reader for web and mobile. HannoverBraunschweigGttingenWolfsburg Metropolitan Region, Communaut d'agglomration Pau Barn Pyrnes, Communaut d'agglomration Nmes Mtropole, List of metropolitan areas (LUZ) in the European Union, List of urban areas in the European Union, List of sovereign states in Europe by GDP (nominal), Nomenclature of Territorial Units for Statistics, "Gross domestic product (GDP) at current market prices by metropolitan regions", City statistics Urban audit data collection, Eurostat regional European GRP statistics, https://en.wikipedia.org/w/index.php?title=List_of_EU_metropolitan_areas_by_GDP&oldid=1170904811, Short description is different from Wikidata, Articles with German-language sources (de), Articles with French-language sources (fr), Creative Commons Attribution-ShareAlike License 4.0, This page was last edited on 17 August 2023, at 22:21. The US industrial production index declined slightly in June to 102 (from 103 in May), while US purchasing managers indexes (PMIs) also fell in June: the manufacturing PMI reached a six-month low of 46.3 (from 48.4 in May), while the services PMI dropped to 54.4 (versus a May 2021 high of 70.4). Real GDP by metropolitan area growth ranged from 8.1 percent in Lake Charles, LA and Bend-Redmond, OR to -13.3 percent in Odessa, TX (table 2). This combined visualization shows the degree of GDP concentration for several large metro areas, as well as the difference in top industry contributors to area GDP as compared to smaller surrounding metro and micropolitan areas. US unemployment edged up to 3.6%, slightly higher than Mays 3.4%. please include a backlink to the respective infographic URL. The invasion of Ukraine continues to have deep human, as well as social and economic, impact across countries and sectors. Please create an employee account to be able to mark statistics as favorites. To add a name to our subscriber list, click here. Consumer confidence increased to 92.3 in June (from 88.2 in May), the highest reading since February 2019. facts. Globally, the manufacturing sector contracted faster in June, with manufacturers either recording a slowdown or accelerating contraction in the business. In this case the statistics of Eurostat's[1] Urban Audit for larger urban zones have been used. Most affordable metro areas U.S. 2018, by income spent on rent, Leading metropolitan areas by jobs in industries at risk from COVID-19 U.S. 2020, Share of workers working from home during COVID-19 U.S. 2020, by metro area, Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2023, Quarterly smartphone market share worldwide by vendor 2009-2023, Number of apps available in leading app stores Q3 2022. Dollars, Annual, Not Seasonally Adjusted, Current Dollar Gross Domestic Product by County, Total Gross Domestic Product for Chicago-Naperville-Elgin, IL-IN-WI (MSA), Total Gross Domestic Product for Las Vegas-Henderson-Paradise, NV (MSA), Total Gross Domestic Product for Dallas-Fort Worth-Arlington, TX (MSA), Total Gross Domestic Product for Miami-Fort Lauderdale-West Palm Beach, FL (MSA), Total Gross Domestic Product for Detroit-Warren-Dearborn, MI (MSA), Total Gross Domestic Product for New York-Newark-Jersey City, NY-NJ-PA (MSA), Total Gross Domestic Product for San Francisco-Oakland-Hayward, CA (MSA), Total Gross Domestic Product for Houston-The Woodlands-Sugar Land, TX (MSA), Total Gross Domestic Product for Los Angeles-Long Beach-Anaheim, CA (MSA), Total Gross Domestic Product for Austin-Round Rock, TX (MSA), Total Real Gross Domestic Product for Chicago-Naperville-Elgin, IL-IN-WI (MSA), Total Gross Domestic Product for Nashville-Davidson--Murfreesboro--Franklin, TN (MSA), Total Gross Domestic Product for San Jose-Sunnyvale-Santa Clara, CA (MSA), Total Gross Domestic Product for Atlanta-Sandy Springs-Roswell, GA (MSA), Total Gross Domestic Product for Orlando-Kissimmee-Sanford, FL (MSA), Total Gross Domestic Product for Memphis, TN-MS-AR (MSA), Total Gross Domestic Product for Phoenix-Mesa-Scottsdale, AZ (MSA), Total Gross Domestic Product for Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (MSA), Total Gross Domestic Product for Charlotte-Concord-Gastonia, NC-SC (MSA), Total Gross Domestic Product for St. Louis, MO-IL (MSA), Total Gross Domestic Product for Boston-Cambridge-Newton, MA-NH (MSA), Total Gross Domestic Product for Seattle-Tacoma-Bellevue, WA (MSA), Total Gross Domestic Product for San Antonio-New Braunfels, TX (MSA), Total Gross Domestic Product for Jacksonville, FL (MSA), Total Gross Domestic Product for Portland-Vancouver-Hillsboro, OR-WA (MSA), Total Gross Domestic Product for Denver-Aurora-Lakewood, CO (MSA), Total Gross Domestic Product for Cincinnati, OH-KY-IN (MSA), Total Real Gross Domestic Product for Cleveland-Elyria, OH (MSA), Total Real Gross Domestic Product for United States Metropolitan Portion, Total Gross Domestic Product for San Diego-Carlsbad, CA (MSA), Total Real Gross Domestic Product for Boston-Cambridge-Newton, MA-NH (MSA), Total Real Gross Domestic Product for Pittsburgh, PA (MSA), Total Gross Domestic Product for Kansas City, MO-KS (MSA), Total Gross Domestic Product for Pittsburgh, PA (MSA), Gross Domestic Product: All Industries in Maui + Kalawao County, HI, Total Gross Domestic Product for Birmingham-Hoover, AL (MSA), Total Gross Domestic Product for Minneapolis-St. Paul-Bloomington, MN-WI (MSA), Total Gross Domestic Product for Tampa-St. Petersburg-Clearwater, FL (MSA), Gross Domestic Product: All Industries in Philadelphia County, PA, Total Gross Domestic Product for Columbus, OH (MSA), Total Real Gross Domestic Product for Seattle-Tacoma-Bellevue, WA (MSA), Total Gross Domestic Product for Raleigh, NC (MSA), Total Gross Domestic Product for Sacramento--Roseville--Arden-Arcade, CA (MSA), Gross Domestic Product: All Industries in Orange County, CA, Total Gross Domestic Product for Washington-Arlington-Alexandria, DC-VA-MD-WV (MSA), Total Gross Domestic Product for New Orleans-Metairie, LA (MSA), Total Gross Domestic Product for Indianapolis-Carmel-Anderson, IN (MSA), Total Real Gross Domestic Product for Miami-Fort Lauderdale-West Palm Beach, FL (MSA), Real Gross Domestic Product: All Industries in Los Angeles County, CA, Gross Domestic Product: All Industries in San Bernardino County, CA. The chain-type index formula that is used in the national accounts is then used to calculate the values of total real GDP by metropolitan area and real GDP by metropolitan area at more aggregated industry levels. PDF Gross Domestic Product by Metropolitan Area - Bureau of Economic Analysis More metropolitan area highlights can be found on the regional highlights pages that accompany this release. GDP by metropolitan area is derived as the sum of the GDP originating in all the industries in the metropolitan area. The boundaries and area titles depicted reflect the March 2020 . U.S. metro areas - ranked by Gross Metropolitan Product (GMP) 2021 non-commercial websites. A peek at the future health and wealth of our global economy, Empty spaces and hybrid places: The pandemics lasting impact on real estate, new report from the McKinsey Global Institute, Empty spaces and hybrid places: The pandemics lasting impact on real estate, McKinseys Strategy and Corporate Finance Practice. China. Table 1. In June, the European Central Bank increased its key interest rate to 3.5%, a jump of 25 basis points, and revised its inflation projections slightly upward to 5.4% (one percentage point) in 2023. The growth rate of real GDP in the nation's metropolitan areas differs from the nation's real GDP growth rates released in July 2016. Gross Domestic Product by County and Metropolitan Area The falling inflation rate is principally the result of a drop in transport costs, particularly fuels, and a slower rise in food and beverage prices. Overall, growth in real U.S. GDP by metropolitan areacalculated as the sum of GDP for all metropoli tan areas deflated by a national price measureslowed to 0.8 percent in 2008 from 2.0 percent in 2007. There was also a wide variety in the industries that contributed the most to micropolitan area GDP in 2020. Mixed economic picture with patchy positives; consumers cautious but confidence rising; inflation in developed economies decelerates, while producer prices decline; trade volumes down. Real gross domestic product (GDP) increased in 267 out of 382 metropolitan areas in 2016 according to statistics on the geographic breakout of GDP released by the Bureau of Economic Analysis. Map: Economic Might by U.S. Metro Area - Visual Capitalist 1 Metropolitan area 2 3 4 5 GDP of the ten largest metropolitan economies in the OECD, 2001-2018 This is a list of cities in the world by gross domestic product ( GDP ). U.S. metropolitan area real GDP ropolitan areasthe metropolitan area counterpart to growth may differ from U.S. GDP by state growth the nation's GDP. Chinas GDP in the second quarter expanded by 6.3% year over year (YoY) (4.5% in the first quarter), from a low base in 2022, and reported 5.5% year-to-date growth. The authors wish to thank Nick de Cent, as well as Jos lvares, Fiorella Correa, Juhi Daga, Darien Ghersinich, Pragun Harjai, Ricardo Huapaya, Yifei Liu, Marianthi Marouli, Tomasz Mataczynski, Frances Matamoros, Erik Rong, Paula Trejos, and Sebastian Vargas for their contributions to this article. Directly accessible data for 170 industries from 150+ countries The largest of the nations urban areas, metro areas of more than 50,000 residents account for the greatest portion of the countrys GDP. The ideal entry-level account for individual users. Directly accessible data for 170 industries from 150+ countries Real GDPthe sum of current-dollar GDP for all metro-politan areas deflated by national price measures grew 1.7 percent in 2016 down from 2.9 percent in 2015. Sources > U.S. Bureau of Economic Analysis, Explore resources provided by the Research Division at the Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, In a moderate scenario modeled by MGI, demand for office space will be 13% lower in 2030 than it was in 2019 for the median city in the study. PDF Gross Domestic Product by Metropolitan Area - Bureau of Economic Analysis In the US, real GDP increased at an annual rate of 2.4% in the second quarter of 2023 (annualized quarter-over-quarter growth), according to the advance estimate from the Bureau of Economic Analysis. List of EU metropolitan areas by GDP - Wikipedia "Real gross domestic product of the United States in 2021, by metropolitan area (in million chained 2012 U.S. The real estimates of gross domestic product (GDP) by metropolitan area are measured in chained (2009) dollars. The graphic shows metropolitan area data in the top half and micropolitan area data in the bottom. Across major EU economies, performance was mixed: France and Spain grew because of stronger exports and tourism, while Germanys GDP was flat and Italy contracted. Real GDP for U.S. metropolitan areas increased 2.1 percent in 2017, led by growth in professional and business services; wholesale and retail trade; and finance, insurance, real estate, rental, and leasing (table 3). Use the Zoom and Search options in the toolbar to the upper left to get a closer look at specific metros. In concept, an industry's GDP by metropolitan area, referred to as its "value added", is equivalent to its gross output (sales or receipts and other operating income, commodity taxes, and inventory change) minus its intermediate inputs (consumption of goods and services purchased from other U.S. industries or imported). In part, the difference is caused by the inclusion of nonmetropolitan areas in the national statistics. Global Economics Intelligence executive summary, July 2023. (It was 3.5% in January 2020.). In the advanced economies, the US grew at 2.4% in the second quarter, but European growth is modest. States as a whole, real GDP by metropolitan areathe sum of current-dollar GDP for all metropolitan areas deflated by a national price measureincreased 2.5 percent in 2012 after increasing 1.7 percent in 2011 (table 1). Learn more However, cities can adopt hybrid approaches to help them adapt and thrive. In, BEA. Quantities and prices. It anticipates that underlying (core) inflation will decline more gradually, with forecasts for inflation in 2024 revised upward. Demand for office and retail space in so-called superstar cities (including Beijing, Houston, London, Munich, New York City, Paris, San Francisco, Shanghai, and Tokyo) is likely to remain below prepandemic levels, according to a new report from the McKinsey Global Institute(MGI). City Mayors: Richest cities in the world in 2020 by GDP Specifically, this analysis explores both metropolitan area (defined by the Office of Management and Budget as areas with an urban core of more than 50,000 population) and micropolitan area (defined as areas with an urban core of between 10,000 and 50,000 population) GDP in 2020, as well as the top contributing industry to area GDP. Consumer Price Index and inflation in the U.S. Real gross domestic product of the United States in 2021, by metropolitan area (in million chained 2012 U.S. dollars), Find your information in our database containing over 20,000 reports, Washington-Arlington-Alexandria, DC-VA-MD-WV, Philadelphia-Camden-Wilmington, PA-NJ-DE-MD, Nashville-Davidson--Murfreesboro--Franklin, TN, Virginia Beach-Norfolk-Newport News, VA-NC. Of the large metropolitan areas, those with population greater than two million, Austin-Round Rock, TX (6.9 percent) and Seattle-Tacoma-Bellevue, WA (5.2 percent) had the largest increases in real GDP. Consensus estimates from major international forecasters currently run in the range of 5.0 to 6.5 % for this year and 4.0 to 5.0% for 2024. Real values are inflation-adjusted statisticsthat is, these exclude the effects of price changes. The United Nations uses three definitions for what constitutes a city, as not all cities may be classified using the same criteria. Please note that the code must be integrated into the HTML code (not only the text) for WordPress pages and other CMS sites. 2 GDP by metropolitan area is the most comprehensive mea sure of economic activity in metropolitan areasthe To better identify regional industry trends, the following interactive graphic combines the previous metropolitan and micropolitan data into a single map for total area GDP and another for the top industry contributor to area GDP. The purchasing managers index for manufacturing dropped from its 31-month high to stand at 57.8 in June (from 58.7 in May) but remained solidly in the expansion zone. Notable increases in this industry occurred in Beckley, WV and Odessa, TX, which increased 9.6 percent and 12.1 percent, respectively. Extended analysis explored a still larger set of 24 superstar cities to help identify patterns in suburbanization. - The New York Times, Useful Stats: US leads the world in GDP, falls behind in R&D intensity, Useful Stats: SSTI analysis reviews life science patent distribution throughout the U.S., 1998-2020. Meanwhile, real GDP grew at an annual rate of 2.0% in the first quarter of 2023, according to the third estimate released by the Bureau of Economic Analysis. An official website of the United States government, Consumer spending adjusted for state price level differences and national inflation, 4600 Silver Hill Road Suitland, MD 20746, Personal Consumption Expenditures Price Index, Personal Consumption Expenditures Price Index, Excluding Food and Energy, Personal Income by County, Metro, and Other Areas, Real Personal Income by State and Metro Area, International Transactions (Balance of Payments), Direct Investment by Country and Industry, Activities of U.S. Can You Guess Which U.S. Metro Area Has a Higher GDP than Canada There was also a wide variety in the industries that contributed the most to metro area GDP in 2020. In an economic performance index combining employment. Overview The aggregate GDP growth of metropolitan areas in the period 2000-13, appeared for a large part due to a small The report focuses most closely on nine superstar cities: Beijing, Houston, London, Munich, New York City, Paris, San Francisco, Shanghai, and Tokyo. The recession brought upon by the COVID-19 pandemic (February 2020 April 2020) saw an extremely sharp drop in both GDP and employment, followed by a relatively fast return to non-recessionary rates of unemployment. As the most comprehensive resource available for those involved in technology-based economic development, SSTI offers the services that are needed to help build tech-based economies. The fact is that 80% of Americans live in cities - and the 10 largest metro areas alone combine for a whopping 34% of the country's total GDP. The US dollar depreciated against major developed countries currencies but performed well against developing economies currencies. 1. At its June policy meeting, the Central Bank of the Russian Federation acknowledged inflation was accelerating again, from low levels. Central banks have kept inflation expectations well anchored. Hover the cursor over a metro in the interactive map below to see additional area details. Global Metro Monitor | Brookings Profit from the additional features of your individual account. Services followed a similar trend, posting a month-over-month decline of 4.4% to stand at 58.5. In the US, real GDP increased at an annual rate of 2.4% in the second quarter of 2023 (annualized quarter-over-quarter growth), according to the "advance" estimate from the Bureau of Economic Analysis. This industry is comprised of agriculture, forestry, fishing, and hunting and mining. Current-Dollar Gross Domestic Product (GDP) by Metropolitan Area, 2012-2017, Table 2. The other 359 smaller cities account for a little over 38 percent of national GDP. GDP by Metropolitan Area | U.S. Bureau of Economic Analysis (BEA) The ripple effects have been significant, with residents leaving urban centers and shopping elsewhere. Metropolitan (statistical) areas. Similar to GDP, GMP is defined as the market value of all final goods and services produced within a metropolitan area in a given period of time. Exports decreased by 22% on an annual basis in June, totaling $32.97 billion, amid global demand challenges. on two sectors: "Media and Technology", updated PDF Gross Domestic Product by Metropolitan Area, 2017 - Bureau of Economic Feel free to contact us anytime using our contact form or visit our FAQ page. Annual Update of GDP by County and Metropolitan Area . This industry contributed to growth in 317 metropolitan areas, most notably in Midland, MI which increased 9.5 percent. Across all metro areas in 2020, the industry that contributed the most to metro GDP was real estate and rental and leasing ($2.33 trillion); followed by government and government enterprises ($2.25 trillion); professional and business services ($1.92 trillion); manufacturing ($1.73 trillion); and, finance and insurance ($1.58 trillion). The Los Angeles-Long Beach-Anaheim metro area also had a high real. For example, manufacturing was the top contributor to area GDP in much of the Midwest and Great Lakes region except for the larger metro areas of Chicago-Naperville-Elgin, IL-IN-WI; Columbus, OH; and Pittsburgh, PA, where professional and business services were the top contributors. The labor market remains tight in many countries, with unemployment rates stable across most surveyed economies, although seasonal factors pushed up the rate in India, where unemployment rose to 8.5% in June (from 7.7% in May).

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