California’s economy growing faster
than national average

By Phillip Reese

California’s economy grew faster in 2016 than all but a few
other states, outpacing the average national growth for the sixth consecutive
year, according to data released Thursday by the U.S. Bureau of Economic
Analysis.

California’s real gross domestic product – the value of all
goods and services produced in the state, adjusted for inflation – rose by 2.9
percent from 2015 to 2016. By comparison, national GDP grew by 1.5 percent. The
state’s economy grew by 2 percent in 2013, 3.7 percent in 2014 and 4.4 percent
in 2015, federal data show.

Only the economies of Oregon, Washington, Georgia, Florida,
Utah and New Hampshire grew faster than California’s last year. In California,
the information technology, government, health care and real estate sectors
drove much of the 2016 growth.

California contributes more to the nation’s economy than any
other state. About 14 percent of the nation’s GDP comes from California. Put
another way, if California wasn’t growing fast, the national rate of growth
would be lower.

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