By Phillip Reese
May 11, 2017
California’s economy grew faster in 2016 than all but a few other states, outpacing the average national growth for the sixth consecutive year, according to data released Thursday by the U.S. Bureau of Economic Analysis.
California’s real gross domestic product – the value of all goods and services produced in the state, adjusted for inflation – rose by 2.9 percent from 2015 to 2016. By comparison, national GDP grew by 1.5 percent. The state’s economy grew by 2 percent in 2013, 3.7 percent in 2014 and 4.4 percent in 2015, federal data show.
Only the economies of Oregon, Washington, Georgia, Florida, Utah and New Hampshire grew faster than California’s last year. In California, the information technology, government, health care and real estate sectors drove much of the 2016 growth.
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