Dec 12, 2019: Metro Area and County GDP Released; Bay Area Surpasses $1T

[dimondpark]

Released Dec 12, 2019 by bea.gov

By CSA


By MSA

[TexasPlaya]

Seattle really impressive with the tech boom.

[dimondpark]

20 Largest Metro Area(MSA) GDPs by 5-year growth.

2013-2018 Metro Area(MSA) GDP Growth:
+$332.642B New York +23.10%
+$227.308B Los Angeles +27.70%
+$165.369B San Francisco +43.14%
+$117.882B Dallas +29.87%
+$115.532B San Jose +53.61%
+$111.800B Chicago +19.35%
+$107.778B Seattle +37.91%
+$97.900B Boston +26.77%
+$97.343B Atlanta +32.45%
+$92.619B Washington +20.67%
+$69.674B Philadelphia +18.60%
+$83.263B Miami +30.67%
+$57.268B Phoenix +28.93%
+$55.012B Houston +12.98%
+$53.627B San Diego +28.00%
+$51.840B Denver +34.03%
+$50 538 Minneapolis +23.60%
+$47.886B Detroit +21.78%
+$46.783B Riverside +33.33%
+$35.070B Baltimore +20.59%

[LA21st]

Whoa, all the California cities are doing great.
Even Riverside.

[dimondpark]

Originally Posted by LA21st

Whoa, all the California cities are doing great.

Yes indeed. Kudos. It's even more surprising because the media is constantly dragging the state.

Even Riverside.

The Inland Empire is booming.

[dimondpark]

2018 County GDP, $100B+
$787.186B Los Angeles, CA
$711.974B New York, NY
$411.671B Cook, IL
$387.731B Harris, TX
$328.260B Santa Clara, CA
$303.694B King, WA
$264.438B Dallas, TX
$260.484B Orange, CA
$247.622B Maricopa, AZ
$245.138B San Diego, CA
$183.171B San Francisco, CA
$171.126B Middlesex, MA
$167.756B Fulton, GA
$164.632B Miami-Dade, FL
$144.494B Alameda, CA
$140.660B Washington, DC
$137.015B Hennepin, MN
$132.808B Suffolk, MA
$122.423B Clark, NV
$120.491B Philadelphia, PA
$120.101B Tarrant, TX
$114.862B San Mateo, CA
$114 507B Mecklenburg, NC
$114.152B Fairfax, VA
$112.604B Oakland, MI
$111.568B Travis, TX
$109.073B Bexar, TX
$108.755B Queens, NY
$108.572B Broward, FL
$105.937B Kings, NY
$100.074B Cuyahoga, OH

[LA21st]

Originally Posted by dimondpark

Yes indeed. Kudos. It's even more surprising because the media is constantly dragging the state.


The Inland Empire is booming.

Tell me about it.

[The North One]

Originally Posted by dimondpark

Yes indeed. Kudos. It's even more surprising because the media is constantly dragging the state.

Because there's a lot more to real life than just numbers on paper. California has insane inequality (probably the most on earth) and the highest rate of supplemental poverty in the country. Any individual in SF making less than $82,000 a year is considered low-income by HUD.

This isn't really something to pat yourself on the back for, it's insane out of wack capitalism dysfunction inching towards caste society.

[CherryCreek]

Originally Posted by LA21st

Whoa, all the California cities are doing great.
Even Riverside.

For all the talk of Texas growth, I got to wonder whether the California GDP growth has been at a higher rate than the Texas GDP growth for the five year period?

[LA21st]

I think Diamondpark had some stats that showed employment gains (?) where Texas was ahead, but it was very small. Certainly not as much as the Texas boosters wanted, that's for sure. Alot of talk about nothing, really.

[Obadno]

Originally Posted by LA21st

Whoa, all the California cities are doing great.
Even Riverside.

The GDP growth and Income growth wouldn't be demonstrative of Californians problems.

In fact your issues stem from the massive wealth inequities going in California, its a two tired society like something in Latin America with the super wealthy and the poor masses with virtually no middle class.

Its not there yet but headed that way rapidly

[LA21st]

Originally Posted by Obadno

The GDP growth and Income growth wouldn't be demonstrative of Californians problems.

In fact your issues stem from the massive wealth inequities going in California, its a two tired society like something in Latin America with the super wealthy and the poor masses with virtually no middle class.

Its not there yet but headed that way rapidly

Again, if California didn't show gains, this forum would be saying, "We told you! It's a horrible tax state!"

It cant win with you guys. Now you're making these comments cause California's doing well. Not surprised, but it is what it is.

[Yuri]

Originally Posted by dimondpark

20 Largest Metro Area(MSA) GDPs by 5-year growth.

2013-2018 Metro Area(MSA) GDP Growth:
+$332.642B New York +23.10%
+$227.308B Los Angeles +27.70%
+$165.369B San Francisco +43.14%
+$117.882B Dallas +29.87%
+$115.532B San Jose +53.61%
+$111.800B Chicago +19.35%
+$107.778B Seattle +37.91%
+$97.900B Boston +26.77%
+$97.343B Atlanta +32.45%
+$92.619B Washington +20.67%
+$69.674B Philadelphia +18.60%
+$83.263B Miami +30.67%
+$57.268B Phoenix +28.93%
+$55.012B Houston +12.98%
+$53.627B San Diego +28.00%
+$51.840B Denver +34.03%
+$50 538 Minneapolis +23.60%
+$47.886B Detroit +21.78%
+$46.783B Riverside +33.33%
+$35.070B Baltimore +20.59%

I was hoping for a stronger growth on Rust Belt areas. Chicago keeps disappointing.

Los Angeles (+Riverside) which has being ignored today, overshadowed by New York skyscraper boom and San Francisco non-stop growing, it's been experiencing a quite decent growth.

Thanks for sharing, Dimond!

Originally Posted by Crawford

All the West Coast cities doing well, obviously due to tech. Bay Area has unreal GDP.

It's crazy. It already has, by a large margin, the highest metropolitan GDP per capita in the world and still keeps growing at insane rates.

[iheartthed]

Originally Posted by dimondpark

20 Largest Metro Area(MSA) GDPs by 5-year growth.

2013-2018 Metro Area(MSA) GDP Growth:
+$332.642B New York +23.10%
+$227.308B Los Angeles +27.70%
+$165.369B San Francisco +43.14%
+$117.882B Dallas +29.87%
+$115.532B San Jose +53.61%
+$111.800B Chicago +19.35%
+$107.778B Seattle +37.91%
+$97.900B Boston +26.77%
+$97.343B Atlanta +32.45%
+$92.619B Washington +20.67%
+$69.674B Philadelphia +18.60%
+$83.263B Miami +30.67%
+$57.268B Phoenix +28.93%
+$55.012B Houston +12.98%
+$53.627B San Diego +28.00%
+$51.840B Denver +34.03%
+$50 538 Minneapolis +23.60%
+$47.886B Detroit +21.78%
+$46.783B Riverside +33.33%
+$35.070B Baltimore +20.59%

What's happening in Houston? Why is it lagging so much?

[Yuri]

Those are nominal figures, not real growth. That’s probably due low oil prices.

[TexasPlaya]

Originally Posted by iheartthed

What's happening in Houston? Why is it lagging so much?

Oil/commodity/global slowdown. Houston boomed due to the global oil industry and the promise of large scale offshore production which got killed due to shale/onshore production. Interestingly, Houston has been a counter cyclical growth story, it boomed while the US while emerging from the financial crisis.

The population growth for Houston hasn’t slowed too much.

[Docta_Love]

Originally Posted by galleyfox

I think the rust belt is satisfied right now with rising per capita growth. Its current demographics and housing prices just aren't going to translate into the sort of rapid GDP growth that you see on the coasts until they complete their economic restructuring over the next century.

The studies of how of the rust belt cities will grow over the coming century are pretty wild. The existing population is basically going to collapse into about 30% of the land area.

https://twitter.com/petesaunders3/st...782298117?s=20

I was having similar thoughts especially about Metro Detroit which which saw a huge surge in gdp growth in the post recession manufacturing boom years but now has stabilized to what is to be expected for a region its size, it's also the area I am the most familiar with so i'm partially extrapolating which I think is apt as Detroit is the canary in the coal mine for the Great Lakes Region. In terms of gdp growth the region has stabilized in terms of keeping up its ranking relative to population size. The legacy of manufacturing is placing the region in a position to claw back some of its lost status ie high number & % of workforce in high tech & stem related professions along some of the best with centers of higher education within a few hour drive. All & all the Chicago, Detroit & Toronto metropolitan axis or proto-megaregion is expected to become the largest in North America over the next 50-75 years. While predicting the future is one of the least profitable ventures if current trends continue to play out the tech centers of the Great Lakes ie Chicago, Detroit, Pittsburgh, Minneapolis & Toronto seem like they will ultimately be the drivers & leading beneficiaries in this long term economic restructuring trend.

Originally Posted by TexasPlaya

Oil/commodity/global slowdown. Houston boomed due to the global oil industry and the promise of large scale offshore production which got killed due to shale/onshore production. Interestingly, Houston has been a counter cyclical growth story, it boomed while the US while emerging from the financial crisis.

The population growth for Houston hasn’t slowed too much.

This is all true but you can't forget the series of multibillion dollar disasters striking the area over the past several years. Houston got absolutely hammered by hurricane Harvey not to mention a series of tropical storms causing similar or in some cases worse massive property damage due to flooding. With the refining industry clustered along the coast & coastal waterways this most important sector of the economy was hit especially hard.

[Crawford]

All the West Coast cities doing well, obviously due to tech. Bay Area has unreal GDP.

[cabasse]

damn, seattle. hanging with metros that are millions of people larger. i wouldn't be surprised if it actually bypasses atlanta next year, which is crazy because ours has shot up as well.

[TexasPlaya]

Originally Posted by cabasse

damn, seattle. hanging with metros that are millions of people larger. i wouldn't be surprised if it actually bypasses atlanta next year, which is crazy because ours has shot up as well.

This was the biggest surprise for me. Glad I own a decent chunk of Microsoft.