Arkansas GDP up 2.5% in the first quarter, personal income up 6.1%

by Talk Business & Politics staff (staff2@talkbusiness.net)

Arkansas’ real gross domestic product (GDP) rose 2.5% in the first quarter of 2024 compared to the previous quarter, above the national rate of 1.4%, and ranking 11th in the nation. The state’s personal income rose 6.1%, below 7% nationwide, and ranking 38th among all states.

Real GDP increased in 39 states and the District of Columbia in the first quarter of 2024, with the percent change ranging from 5% at an annual rate in Idaho to a 4.2% decline in South Dakota, according to a Friday (June 28) report from the U.S. Bureau of Economic Analysis (BEA).

Personal income, in current dollars, increased in all 50 states, with the percent change ranging from 9.5% in South Carolina to 0.6% in North Dakota.

Arkansas GDP up 2.5% in the first quarter, personal income up 6.1%