Which statement correctly describes Nominal GDP in New York State?

• The Q1 2026 figure of about $2.554 trillion is a seasonally adjusted annual rate, not a literal one-quarter dollar total.
• GDP per resident is a productivity/output ratio and should not be interpreted as the income received by the typical resident.
• New York’s 2025 current-dollar GDP of about $2.468 trillion measures output at current prices.
• The increase from about $1.840 trillion real GDP in 2024 to $1.894 trillion in 2025 corresponds to roughly 2.9% annual real growth.