New Mexico follows the national trend with an overall increase in gross domestic product (GDP) during the second quarter this year.
According to the Bureau of Economic Analysis, New Mexico is ranked 38 out of the 50 U.S. states. The District of Colombia was not given a ranking though its was GPD analyzed and listed.
"Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the second quarter of 2021, as real GDP for the nation increased at an annual rate of 6.7%, according to statistics released today by the U.S. Bureau of Economic Analysis," the Bureau of Economic Analysis said in its report.
New Mexico's real GDP change for the second quarter was 5.3%. Industries that showed an increase GDP percentages ranging anywhere from .05% to 1.53% included oil and gas extraction, utilities, durable and nondurable goods manufacturing, wholesale trade, information, finance and insurance, real estate, professional science and technical services, administrative support, educational services, health care and social assistance, accommodation and food services, government and government enterprises and other services.
Industries that saw a second-quarter decrease in GDP percentages ranging anywhere from -.01% to -1.08% included agriculture, forestry, fishing and hunting, retail trade, transportation and warehousing, management of companies and arts, entertainment and recreation.
Overall nationally, the information industry increased 25.2%, while professional, scientific and technical services increased 15.3%, but this was offset by retail trade which decreased 14.7% nationally.