U.S. States with the Lowest Real GDP Growth in 2023

What We’re Showing

The 10 states with the lowest real GDP growth in 2023, based on data from the Bureau of Economic Analysis.

Delaware Posts Weakest Growth

Delaware witnessed the slowest growth of all U.S. states, with real GDP falling -1.2% over the year.

A sluggish finance and insurance sector was a significant factor weighing on the state’s economy.

New York Lags Behind

With one of lowest growth rates nationwide, the state of New York grew just 0.7% in 2023.

High interest rates took a toll on America’s third biggest economy, with slowdowns witnessed in the construction and manufacturing sectors. 

In addition, falling home prices and a weaker job market contributed to weaker economic growth. 

Rivian Halts Multi-billion Dollar EV Plant in Georgia

In March 2024, Rivian paused plans to build a $5 billion EV factory in Georgia, which was set to be one of the biggest economic development initiatives in the state ever.

These delays are likely to exacerbate setbacks for the state, which posted the fifth-lowest real GDP growth rates in the country last year.