The Daily Breeze posted a Focus page on Sunday, Jan 26, 2020, on California’s Gross Domestic Product (GDP).
GDP is important because it gives information about the size of the economy and how the economy is performing. The growth rate of real GDP is often used as an indicator of the general health of the economy.
“California’s economy is bullish. In fact, it’s huge on a global scale.” Daily Breeze, by Jeff Goertzen & Jonathan Lansner.
Los Angeles County’s GDP is $711 Billion which is equal to Switzerland. The top sector is Information. LA Co. ranks #1 nationally and saw 3.2% increase in 2018.
To give these numbers perspective, the United States GDP growth rate was 2.9% vs the 14 big California counties saw a 4.4% growth rate. “California’s top 14 counties represent 1/8 of the US Economy.”