Overview

• California's 2024 GDP reached $4.10 trillion, surpassing Japan to become the world's fourth-largest economy, according to official data.
• The state's economy grew by 6% in 2024, outpacing the overall US economy, China, and Germany, driven by robust tech and agricultural sectors.
• Economic growth has been heavily concentrated in three Bay Area counties, where GDP rose four times faster than the national average since 2017.
• Nearly a third of Californians live in or near poverty, with housing affordability and high energy costs exacerbating inequality across the state.
• Governor Gavin Newsom and Attorney General Rob Bonta recently filed a lawsuit against federal tariffs, citing their negative impact on California's economy.