Web Version [link removed] | Update Preferences [link removed] [link removed] QUICK FACTS: California GDP and Personal Income in the 1st Quarter

US Bureau of Economic Analysis released [[link removed]]the 1st Quarter results for state GDP and Personal Income. For additional information and data about the California economy visit www.centerforjobs.org/ca [[link removed]].

California GDP Slows to 1.2% in Q1

California real GDP slowed to an annualized rate of 1.2% from 3.1% in 4th Quarter 2023. California was below the overall US average of 1.4% and posted 28th highest among the states. Using the current projections from the April International Monetary Fund, World Outlook [[link removed]], continued growth at the current GDP rate would push California below India to shift from 5th to the 6th largest economy by 2025.

Personal Income Up 8.2%

Personal Income grew at an annualized rate of 8.2% in the 4th Quarter, up substantially from the anemic 1.3% in 4th Quarter 2023. California was above the US average of 7.0%, and ranked 9th among the states. The 4th Quarter level of $3.218 trillion was only marginally different from the Department of Finance projection of $3.217 trillion underlying the budget revenue projections.

The California Center for Jobs and the Economy provides an objective and definitive source of information pertaining to job creation and economic trends in California. [[link removed]] Contact 1301 I Street Sacramento, CA 95814 916.553.4093 If you no longer wish to receive these emails, select here to unsubscribe. [link removed]