The real estate and rental and leasing industries contributed the most to Georgia’s GDP in the second quarter of 2022, the most recent period available, business credit card company Capital on Tap reported.
At $102.76 billion, these sectors were followed by manufacturing and finance and insurance at $73.41 billion and $61.1 billion, respectively.
Capital on Tap analyzed 26 industries’ GDP using data from the U.S. Bureau of Economic Analysis to complete its study.
Nationwide, real estate contributed the most to the U.S. GDP during the second quarter, at $3.1 trillion, followed by manufacturing, at $2.7 trillion. The GDP for all industries during that period was $25.2 trillion.
“For small business owners, GDP is an important indicator of the economy’s overall health and potential for growth, and from that perspective, the outlook is generally positive, as national GDP has steadily grown in each consecutive quarter since the start of 2021,” Capital on Tap COO Damian Brychcy said in an email. “I think there is a question as to whether that growth can be maintained in 2023, and that’s something small business owners will be following closely.”