Is Oklahoma ranked #4 in the nation in GDP growth?
According to rankings by US News and Forbes, Oklahoma is not ranked 4th in the nation in GDP growth.
Both outlets created their rankings by using data from the Bureau of Economic Analysis to analyze annual growth rates of real GDP per state in order to account for inflation. US News and Forbes analyzed data over a three- and five-year period up to 2024 respectively, with Oklahoma consistently ranked at 44th.
The Federal Reserve Bank of Kansas City identifies the sharp collapse of oil prices and the COVID-19 pandemic as contributing factors to Oklahoma’s periods of stagnant growth and declining real GDP over the past decade.
Oil extraction, as well as gas extraction, mining, and quarrying, continued to play a leading role in the decrease in Oklahoma’s real GDP in the 2nd quarter of 2024.
Oklahoma Watch (OklahomaWatch.org) is a nonprofit, nonpartisan news organization that covers public-policy issues facing the state.
