The federal Bureau of Economic Analysis released a report today that says that California ranked in the top fifth nationally for economic growth in 2011.
That sounds good, until you realize that the national growth rate was a weak 1.5%, down from 3.1% the previous year. In 2010, the Far West’s economy shrank by 3.8%.
The BEA report’s tables show that California’s economy has grown for the last two years, but not robustly: 1.7% in 2010 and 2.0% in 2011. The state’s economy shrank by 0.4% in 2008 and by a chilling 4.7% in 2009.
So toss a (tiny) handful of confetti, toot your horn (off-key) and get back to work (if you’ve got a job) — and go vote!
Graphic of Far West 2011 GDP growth courtesy of BEA.