California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

California remains the eighth largest economy in the world according to new estimates
released by the U.S. Dept. of Commerce.  The new estimates put California’s gross state
product (GSP) at $1.9 trillion in 2009.

And according to World Bank estimates, the California economy ranked just behind Italy
and ahead of Brazil and Spain. The next five largest economies were Canada ($1.3 trillion),
India ($1.3 trillion), Russia ($1.2 trillion), and Australia and Mexico ($0.9 trillion).

The state GDP data can be found on the Bureau of Economic Analysis (BEA) website at
http://www.bea.gov/regional/index.htm#gsp .

And according to a complementary report on this information by the Center for the
Continuing Study of California, it included the following:

•      California ranked eighth in the nation for gross state product per person, at
        $47,067. That was far behind the national leader, Delaware, which produced
        $62,080 per person. But it was comfortably ahead of the national average,
        $42,031. Texas, often viewed as an economic rival of California, ranked in 12th
        place, just above the national average, at $42,526
•       In 2009 the five-county Los Angeles Basin had a GDP (CCSCE estimate based on
        personal income data) of $856 billion, which placed the region between 14th
        ranked Mexico and Korea
•      The Bay Area with a GDP of $486 billion ranked between Switzerland (19tht in the
        world) and Belgium
•      San Diego ranked between Nigeria (44th) and Pakistan
•      The San Joaquin Valley ranked between Algeria (50th) and Hungary
•      The Sacramento region ranked between Ukraine (54th) and Kazakhstan

Further information can be found at the Center for the Continuing Study of California at
http://www.ccsce.com/PDF/Numbers-Dec10-CA-Economy-Rankings.pdf

I am Tim Johnson and this has been the California Business Minute.