10/21/2020

California GDP growth lags

Real gross domestic product increased by 2.2 percent in California in the second quarter of 2016, the U.S. Bureau of Economic Analysis says Wednesday.

That puts California in the second tier of states for GDP growth. Rival Texas saw its GDP actually drop, down 0.2 percent, the BEA says.

The largest economic growth was 4.3 percent in Nebraska. The least was in North Dakota, where the economy stumbled to a negative 5.6 percent rate.

Nationally, transportation and warehousing grew 14.0 percent in the second quarter of 2016. This industry contributed to growth in 47 states and the District of Columbia and contributed 0.97 of a percentage point to the 2.3 percent growth in Nevada.

Health care and social assistance grew 4.7 percent in the second quarter. This industry contributed to growth in every state and the District of Columbia.

Professional, scientific, and technical services grew 3.7 percent in the second quarter — the ninth consecutive quarter of growth for this industry. This industry contributed to growth in 47 states and the District of Columbia.

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