Governor Hochul Announces New York Had the Fastest Growing Economy in the Nation During Second Quarter 2026

Governor Kathy Hochul today announced that New York State had the fastest growing economy in the nation in the second quarter of 2026, according to new data released by the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA). New York’s real gross domestic product (GDP) grew at an annual rate of 4.0% from the first quarter to the second, which was the highest of any state and nearly double the national growth rate of 2.2%.

“New York's economy is growing faster than any other state in the nation — and we made it happen by driving innovation, creating good jobs and investing in our communities," Governor Hochul said. "I'll continue building on this progress every day, as my administration moves forward with nation-leading policies and investments to keep sparking even more economic growth and put more money in the pockets of New York families."

Since taking office, Governor Hochul has worked to strengthen New York’s economy by promoting job creation and retention, doubling down on workforce development, and investing in neighborhood and regional revitalization programs in every corner of the State. Under Governor Hochul’s leadership, New York is attracting major new investments from industry giants such as Micron, IBM, Regeneron, Chobani, Fairlife and many others. These companies will create real value and bring tens of thousands of jobs to New York State now and well into the future, while comprehensive workforce development programs will ensure that New Yorkers benefit from these transformative opportunities.

New York’s growth was led by industries that align with the State’s priority sectors. According to BEA, finance and insurance was the leading contributor to New York’s GDP growth, followed by information, real estate and rental leasing and professional, scientific and technical services.