We’re back! That’s right, California has climbed back to be the world’s sixth largest economy. Economic data shows that the California Gross Domestic Product (GDP) – the total dollar value of the goods and services produced – grew at over 4% from this time last year, up to $2.5 trillion. The countries with a higher GDP are the U.S., China, Japan, Germany, and the United Kingdom. Take a second and let that sink in – the State of California is an economic powerhouse! Now, take another moment and think about how we’ve grown with all of the structural and economic impairments in this state. Just imagine where we could be.
You will also see that California consumer confidence is at its highest level in nine years. This is a great combination for economic growth. I think we can all agree that our economy has changed since the Great Recession. Gone are the days where companies and consumers spent freely. Today, there are tight controls over expenses, and rightly so. Perhaps this will guard our economy should we hit another recession, or it could further limit growth. With a slew of new tax proposals set for the November ballot, we could just pull a Barney Fife and shoot ourselves in the foot (yes, I understand that dates me). When November comes, get out there and vote – for our state’s economy.
I hope you are enjoying your July. Don’t forget we have a great Let’s Do Lunch coming up at Thai Mayom , and I hope to see you there. Stay tuned for more events coming up in August and the fall.
Take care and I hope you enjoy your weekend
Quote of the Week:
Get your facts first, then you can distort them as you please.