Explaining Southern California's economy

Comparing California's economic growth to the US and the world

US-World-CA-GDP

LAEDC

Take a look at how their economies would stack up if California and L.A. County were countries.

The Commerce Department released its figures for second-quarter U.S. GDP growth this morning. Growth was weak, and that's something to worry about. But it's also an opportunity to compare U.S. growth with California's, and to compare California's to the rest of the world.

Conveniently, the LAEDC recently compiled this data into a nice, neat chart (above). It actually isn't technically possible to compare the GDP of a U.S. state with the GDP of a country, but for the sake of argument you can pretend that California is a country, just to get a sense of how we're doing. Besides, California's economy is so large — nearly $2 trillion in the context of a $15-trillion-plus U.S. economy — that it's routinely talked about as if it were a country.

Indeed, if it were a stand-alone economy, California would be the world's ninth largest, coming in just above Russia and just below Italy. But let's compare California to the rest of the world in terms of growth. First off, the Golden State saw growth last year that was actually better than the U.S. — 2 percent for Cali, versus 1.8 percent for the U.S. 

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