The state added more than 300,000 residents last year with the largest increases in big cities, according to a report released Monday by the California Department of Finance.
Gross domestic product grew at a 0.7% annual rate in the first quarter from the preceding three months, the Commerce Department said Friday. Economic output has grown an average of roughly 2% during the nearly eight-year expansion.
The Conference Board’s consumer confidence index for California rose for the fifth time in sixth months in April. Since Donald Trump’s surprise White House win, this index — for a state he lost badly — is up 29 percent.
For April, Californians told Conference Board pollsters that present economic conditions slipped a bit. Statewide job growth has slowed after five years of significant improvement. Still, the current climate measure is up 33 percent in six months. And Californians’ expectations for the economy rose in April, part of a 25 percent jump since the election.
On Tuesday, Mr. Ballmer plans to make public a database and a report that he and a small army of economists, professors and other professionals have been assembling as part of a stealth start-up over the last three years called USAFacts. The database is perhaps the first nonpartisan effort to create a fully integrated look at revenue and spending across federal, state and local governments.
Retail sales fell a seasonally adjusted 0.2% last month, the Commerce Department said Friday, after a revised 0.3% decline in February. But over the last 12 months, retail sales have risen 5.2%, a sign that that the economy remains on stable footing.
Still, there are indications that consumers are growing more cautious even though the unemployment rate declined in March to a low 4.5%. Steady job growth as the recovery from the Great Recession nears its eighth year and a bump in consumer sentiment following President Trump's presidential election have yet to strengthen spending much.
Since the start of 2017, Americans have actually cut back on purchases at auto dealers and restaurants and bars, two major sources of sales gains in prior years. Sales dipped 1.5% last month at auto dealers and 0.6% at restaurants and bars. It was the second straight monthly drop in sales for both categories.