Georgia's Economy Continues Chugging Ahead, Report Shows

Georgia's economy continues to show signs of strength and growth, according to data released by the US Bureau of Economic Analysis in its quarterly Gross Domestic Product by State report.

Georgia's economy continued to grow in the first quarter of 2024, according to state GDP numbers released by the federal government.Photo byTech DailyonUnsplash

Georgia's gross domestic product -- the sum of all goods and services produced in the state -- grew by 2.3% in the first quarter of 2024, putting Georgia's economy within the top 50% of all US states. Georgia was among 39 state which saw their GDP grow during the same period.

Overall, the US GDP for the same period grew 1.4 percent in the first quarter of 2024. And preliminary estimates for the second quarter released by the BEA in late July show the overall US economy continuing to chug along, predicting 2.8% growth for the quarter.

The data is included in the US BEA Gross Domestic Product by State and Personal Income by State, 2nd Quarter 2024 report, released in late in June 2024. The next report from BEA is scheduled for September.

Georgia's second quarter growth outpaced neighboring Tennessee, where GDP grew at only 1.7 percent in the first quarter, BEA data shows. Meanwhile, the state economies in South Carolina, Alabama and Georgia grew faster than Georgia's at 2.5, 2.9 and 3.0 percent respectively.