California 10th Fastest Growing State

GDP growth: 2%
> Real 2011 GDP: $1.735360 trillion (The highest)
> Population change: +0.95% (11th highest)
> Pct. increase in employment: 0.9% (tied-21st lowest)

With a population of 37.7 million, California has one of the largest economies — not only in the U.S., but the world. The Golden State’s GDP represents 13.2% of national economic production. Because of its size, the state’s 2% GDP increase was worth $33 billion — the second-largest growth in dollar terms in the U.S. after Texas. The state’s growth last year can be credited to expansion in the manufacturing, information, and the professional, scientific, and technical service sectors. The state’s durable manufacturing sector, which includes the computer and innovation technology-producing Silicon Valley, contributed to more than $10 billion of the increase, nearly a third of the total growth.

Read more: The States With The Fastest Growing Economies – 24/7 Wall St.


About Cameron Ackbury, CPA

Founding Director at DaggerFoil Group
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