None of the 50 states produce a GDP below $400 million. PunditFact made a more severe error, in terms of exaggeration, than Lampley did. If even one state had a GDP below $400 million then PolitiFact exaggerated by 3,700 percent compared to Lampley's 383 percent exaggeration.
Lampley gets a 500+ word article highlighting his error, more-or-less permanently archived at PolitiFact. PunditFact, in contrast, gets the following treatment from PolitiFact:
Correction: All 50 U.S. states have a gross state product in excess of $400 million. An earlier version of this fact-check was incrorrect [sic] on this point.We think this correction serves pretty effectively to sweep PunditFact's mistake under the rug. Yes, PunditFact implicitly admits suggesting at least one state had a gross state product less than $400 million. But the correction obscures the nature of the error, particularly its magnitude.
PolitiFact maintains of habit of incomplete transparency with its corrections.
Transparent correction May 6, 2015: We put "greater" in the next-to-last paragraph when we meant "less." We substituted "less" for "greater" to correct the mistake.