Which statement gives the most accurate understanding of Quarterly SAAR?

• New York’s 2025 real GDP was about $1.894 trillion in chained 2017 dollars.
• A quarterly GDP annualized rate is not the same as the actual amount of output produced during one quarter.
• New York’s Q1 2026 current-dollar GDP was reported at an annualized rate of about $2.554 trillion.
• New York ranked third among states by current-dollar GDP in the 2025 annual data, behind California and Texas.