California’s export trade dipped in October, according to a Beacon Economics’ analysis of U.S. trade statistics by the U.S. Census Bureau.
Foreign shipments by California businesses totaled $14.82 billion for the month, a nominal 2.6 percent decline from the $15.21 billion recorded in October 2016.
The state’s exports of manufactured goods fell 4.6 percent to $8.87 billion from $9.30 billion one year earlier. Exports of non-manufactured goods (chiefly agricultural products and raw materials) ebbed slightly by 0.4 percent to $2.31 billion from $2.32 billion. Re-exports, meanwhile, rose by 1.7 percent to $3.65 billion from $3.59 billion.
California’s economic growth in the second quarter ranks only 35th in the nation, according to a report Tuesday from the federal Bureau of Economic Analysis.
Gross domestic product growth in California was just 2.1 percent in the quarter, second-lowest in the West, trailing Hawaii’s rank of 40th.
Real gross domestic product increased in 48 states and the District of Columbia in the second quarter of 2017, according to statistics on the geographic breakout of GDP released today by the BEA. Real GDP by state growth in the second quarter ranged from 8.3 percent in North Dakota to -0.7 percent in Iowa.
California accounted for 11.4 percent of the nation’s overall merchandise export trade in August. Through the first seven months of 2017, the state’s exports are running 5.3 percent ahead of last year.
California's economic pulse barely registered in the first quarter of 2017, increasing just 0.1 percent, according to a new report released Tuesday from the U.S. Bureau of Economic Analysis. California trailed every state west of the Rockies with the exception of Hawaii, which saw a decline of 0.9 percent in state GDP.
When it comes to personal income growth, Californians matched the national average of 1.0 percent for the first quarter of the year, according to a new report released Tuesday by the federal Bureau of Economic Analysis. The national rate is up from 0.3 percent in the fourth quarter of 2016, according to the BEA’s estimates. But for California, it’s been a barely measurable increase from the 0.9 percent growth rate of the previous quarter. Overall, California ranks 29th among the state and the District of Columbia for personal income growth in the first quarter of 2017, based on the BEA’s data.