CALIFORNIA ECONOMY BY THE NUMBERS LEADING JOB CREATION: California added almost 320,000 new jobs in 2013 and over 1.17 million new jobs since the end of the recession. TOP 5 GDP GROWTH: Californias GDP growth rate was 3.5 percent in 2012 – fifth best in the nation. MULTIPLE NATION LEADING SECTORS: Where other states have one or two main economic sectors, California has several -- all of which lead the nation. California is first in high tech, biotech, agriculture, entertainment, manufacturing, tourism and more. MANUFACTURING JOB INCREASE: After ten plus years of manufacturing job losses, California posted three consecutive years of manufacturing job gains in 2011, 2012 and 2013. RECORD EXPORTS: In trade, California merchandise exports grew to $164 billion last year -- a record export high for the state. Our nation leading tourism sector boasts over 200 million visitors in 2012 with direct travel spending of more than $106.4 billion. BALANCED BUDGETS IMPROVE CA CREDIT RATING: In a landmark for the state, California ended 10 years of budget deficits as Governor Brown not only signed his third consecutive balanced budget but one that included more than a billion dollar surplus. As a result, the ratings service Fitch changed the states outlook from stable to positive, Moodys upgraded their ratings for Californias Economic Recovery Bonds and Standard & Poors raised Californias credit rating for the first time since 2006. business.ca.gov/WhyCA/CaliforniaEconomybytheNumbers
Posted on: Fri, 02 May 2014 06:12:13 +0000
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