California’s economy has established itself as a global powerhouse during Governor Gavin Newsom’s tenure, with new data highlighting the state’s influence on the nation’s economic growth and financial markets.
Citing data from a recent Bloomberg News report, the governor’s office said in a statement that California’s economy has continued to flourish despite President Donald Trump’s “failed economic policies and sustained attacks” from a section of the media.
According to the report, California has emerged as the leading-performing economy among all 50 states, even outperforming some developed countries.
Calling Governor Newsom an “economic maestro,” the report said that California (with a population of 39 million) surpassed Japan (population 123 million) as the fourth-largest economy.
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A $4 Trillion Economy
After Governor Newsom was sworn in as the governor in January 2019, California’s GDP surged 40% to over $4 trillion, according to Bloomberg. This accounts for more than 14% of the total national output.
California’s GDP growth also outpaced major economies, including China (32%) and Germany (16%).
Despite being home to less than 12% of the nation’s population, California accounted for more than 40% of the growth in the value of the country’s publicly traded equities.
Companies based in California are thriving, another marker of economic growth. Firms in the state spent $527 billion annually on acquisitions during Governor Newsom’s tenure, almost three times the $179 billion spent annually in the 20 years before he took office.
California Becomes Fourth Largest Economy
California’s global economic standing was cemented by data which revealed that the state ranked among some of the biggest global economies.
Citing data from the International Monetary Fund (IMF) and the U.S. Bureau of Economic Analysis (BEA), Governor Newsom announced in April 2025 that California’s GDP placed it fourth in global rankings.
Significantly, California was the only state to feature ranking, which includes major countries. In 2024, California’s growth rate was 6%, placing the state fourth and behind the U.S., China, and Germany in the global rankings.
A driver of the nation’s economic growth, the statement said California sends over $83 billion more to the federal government than it receives in federal funding.
California’s Growth Trajectory
Across the country, California’s GDP grew at a 4.5% annualized rate, representing the state’s fastest growth since the second quarter of 2023, The Orange County Register reported citing the third quarter report from the Bureau of Economic Analysis. California outperformed two significant economic rivals: Texas (4.2% growth) and Florida (3.5% growth).
Recent economic projections indicate that California’s growth will stay strong amid broader labor market challenges.
According to the spring 2026 UCLA Anderson Forecast for the U.S. and California, the state has grown faster than the nation for four consecutive quarters.
Despite payroll employment declining in 2025, the unemployment rate has remained above 5% for almost two years.
California’s ability to sustain stronger growth than the rest of the nation highlights the resilience of its core industries, particularly the AI, aerospace, technology, and innovation sectors, according to the study.
Garbage and pure propaganda!
Newsom is a known liar. Might as well lie bigly:)
Dollies, you protect lying child r****ts. What does that make you?
DOO_ALWAYSLIES – prove it.
Every time we claim your guy lies, we back it with proof (which is nearly every single time he opens his puckered mouth).
Can you do the same? Nah, you never do.
Just useless words from a r****t lover.
The projection is right there in your name.
You told us that we would love Trump within 3 months … one of so many of your profoundly stupid lies.
Hammonds – you should get out there and fight fentanyl in our streets and/or help the homeless population if you want to help the community. Is whining all that you have time for?
Which part of California being the lead performer economically over 50 state is untrue? I can wait two years for you to go to SBCC and do the calculations.
Don’t assume I do not reach out to the homeless.Tell me again, how much debt is CA carrying?
Sure Sonny. I doubt you have helped anyone with that attitude.
Hammonds is telling us how you “reach out” to the homeless?
What is false in the report.
HAMMONDS – can you specify what exactly is untrue here?
I bet not.
Please read Steve_O’s response
For some comedic relief.
HAMMONDS – it’s as useless and as devoid of any argument based on facts as yours.
DOn’t be unintelligent AND lazy. Do you work or quit whining.
The government unfunded pensions will be coming to fruition soon, the Democrats in power were puppets of the corrupt unions who planted them in all local government departments.
Bankruptcies in government are coming soon!
Statements by intellectually bankrupt con puppets actually come from their manipulators.
Touting a large economy while currently being in horrible debt for decades is so ironic. Add to it, ridiculous taxation on it’s citizens to try to cover it…while our infrastructure has long been in bad decay, is diabolical.
Now applybyour logic to Trump’s 31 trillion yet insisting everything is great. Repuglikkkon logic.
STEVE – have you heard about the federal debt, lack of decent infrastructure and billionaire tax cuts that will cost YOU more? Oh man, you’re gonna be pissed when you learn about that!
Oh, does that bother you? You’ll probably have a literal heart attack and die when you find out that Trump increased the deficit by 7.8 trillion dollars…and more to come.
And California has more than $1 trillion in debt and has $35 billion in annual deficits.
In a 4 trillion dollar economy, that’s doing pretty darn good, despite what your conspin social media is telling you.
The US is over 31 trillion in debt and are borrowing 100 Billion a week from China. But the US and Donald Trump are the bestest in your world.
FERNALD – we all know you and your kind don’t care about debt. Stop pretending you voted for fiscal responsibility.
> And California has more than $1 trillion in debt and has $35 billion in annual deficits.
This is a lie, which is what RWers do constantly. The $35 billion is a worst case scenario for 2028.
The average annual growth in M2 money supply is more than 12% over the last 10 years.
https://fred.stlouisfed.org/series/M2SL
“California’s ability to sustain stronger growth than the rest of the nation highlights the resilience of its core industries, particularly the AI, aerospace, technology, and innovation sectors, according to the study.”
Misleading: California’s largest category contributing to GDP is real estate and finance.
https://www.statista.com/statistics/304869/california-real-gdp-by-industry/
In fact, the reason California outpaces other states is the Cantillon Effect.
That an effect caused by inflation, which Trump is reveling in.
Yes, so the GDP number basically represents a rising cost of living without the commensurate rise in wages. It’s mostly the increased cost of housing. The rise in money supply accelerated post 2008 and has been encouraged by every president since. The Fed is supposed to be “independent” or non-partisan but clearly has a dramatic effect on elections. So, if you want to unseat the current administration, convince the Fed to reduce the money supply by reducing the balance sheet and/or raising interest rates. That would likely trigger a recession and have a negative effect on the incumbent party. However, Newsom’s donors would also probably find that process unsavory.
So much money. Bigger than Japan?! Wow. Where is it all going??
Quality education? Nope.
Excellent roads/infrastructure/mass transit? Nah.
First responders? LOL, no.
Taxing us left and right to support massive pension debt and fat municipal governments? Bingo.
Not buying it.
LIes, crying and whining! How does it feel to live in a world of hate and fear? Republican men truly are sad.
And as dumb as a wet sack full of mice. But they think they’re soooooo smart. That’s now dumb they are.
Apparently, you think facts are too expensive.
BS is just that – cheap and useless. So show us all the facts that prove me wrong in those 3 example categories. How is CA doing? Let’s add a couple others for you to work on.
Taxes. Ouch, that’s going to hurt you.
Insurance rates. Uh-oh…
You’re right about BS, so why do you always provide it in such quantity?
Get your head out of your con social media cesspit, and maybe you’ll realize that the purpose of government is to provide for the welfare of its constituents.
[lie]
[lie]
[lie]
[lie] “Bingo.”
“Not buying it.”
Even on its own terms this idiocy doesn’t make sense.
The Republican party is full of inadequate men blaming their problems on others. They feel happy wallowing in a cesspool of.their own misfortune because their leaders keep them there, and they are easily manipulated into action through fear.
so if he has done such an amazing job, why is CA running a deficit?
This just shows that you haven’t been paying attention to all the federal funding, largely provided by California, that the Orange Moron has been withdrawing. We have chosen to fund those vital functions ourselves, for the benefit of our populace.
and you haven’t paying attention to the frivolous spending
The only thing frivolous around here is your critical thinking ability.
that’s the best you can do – good one!!
Oh, so CA provided the federal funding? Then why is ca upset?
You say vital funding, such as what? The $30 billion for a train to nowhere. The $24. Illion to increase the number of homeless. Or the $30 billion/ year to subsidize illegal aliens? What vital funding are yiu talking about exactly?
Not real big on logical thought processes, are you?
Sblets how do you justify Dr. Jesus TRUMP increasing the national debt by $39 trillion in one year? You guys sure like to borrow money for other countries.
Who is ca and what are they upset about?
Because like most RWers you have no idea how macroeconomics works.
Imagine where California would rate if the state hadn’t driven out so many companies!!
SAIL – we’re the 4th largest economy in the world. I’d say we’re doing pretty good.
Now, imagine if our federal government made an effort to increase jobs in the US, spent more money on programs that benefit Americans (like healthcare) and education and infrastructure and everything else a successful nation needs that we don’t have….
You have to use your imagination on that one, because ours is the most vibrant economy in the nation, and if you can’t hack it here, or have no interest in enhancing life here, good riddance!
The crying never stops with Sail. You are no longer useful in California. A double wide awaits you in West Virginia.
No crying. Calif could have been #2 with business friendly leadership
SAIL – you think a Republican (the same losers who chose a rapist to lead us into the most pointless war we’ve ever been engaged in) would have made California stronger than CHINA?
Dang, you MAGAts smoke some strong stuff. Or do you all just eat acid everyday? How do you achieve this constant level of hallucinatory delusions?
Sail you are still here whining like a schoolgirl.
> Calif could have been #2
Instead of being #1? “According to the report, California has emerged as the leading-performing economy among all 50 states, even outperforming some developed countries.”
If you mean that CA could have been the 2nd largest economy … so the U.S., CA, and then China? Of course not … and what kind of pathetic absurd idiotic complaint is this? “Newsom sucks because even China has a larger economy than California.” You RWers would do better to remain silent because every time you speak you demonstrate that you are completely without intelligence or honesty.
“While headline-grabbing exits like Tesla, Chevron, and Oracle have occurred, data suggests their overall economic impact has been largely offset by new growth.
Job Impact: Between 2011 and 2021, net headquarters departures accounted for only about 3.7% of all headquarter jobs, a figure considered “negligible” relative to the state’s total workforce.
Business Creation: California remains the national leader in new business starts, with 44,300 new formations in 2025 alone—outpacing rivals like Texas (31,100) and Florida (28,000).
Venture Capital: The state continues to capture roughly two-thirds of all U.S. venture capital, fueling a “replacement cycle” where new tech and green energy firms fill the void left by departing older corporations.”
The thing is, Sail, extreme black, and white and politically motivated thinkers like you are incapable of being objective.
Does California have the most powerful economy of any state in the nation by a multiple factor? Yes.
Is California the most important state in the nation by most economic metrics, i.e., technology, agriculture, tourism, entertainment, etc., etc., yes.
These are facts. And yet you and your ilk are so blinded by partisan hatred that you literally would walk outside and claim the sky was red if a “Democrat” said it was blue.
AT THE SAME TIME–could California be doing a lot better in terms of waste and efficiency? ABSOLUTELY. Could California be a far better environment for business owners? YUP! My wife and I own a couple of businesses. About a seven years ago we figured out how to offshore everything because being an employer in California absolutely sucks. Any time there is a conflict the state automatically defers to the employee even if they are literally mentally unbalanced.
So, here’s the thing, SAIL, and all you other politically motivated extremists, more than one thing can be true at once….duh. California can be a massive economic powerhouse, and California can also have serious problems in terms of how we deploy our resources.
I know, your brain probably just broke.
Wow, this is a popular page with right wing garbage, proving as always what useless dishonest scum they are.
https://www.bloomberg.com/opinion/articles/2026-04-06/california-s-economic-boom-proves-gavin-newsom-s-critics-wrong
“Of all the prevailing media narratives around Gavin Newsom, the one that is most conspicuous by its absence is how under its two-term governor California became the top performing economy not just among its 49 siblings but also any developed nation. No wonder Elon Musk quietly sought Newsom’s help when the world’s richest man sought to move a bunch of Tesla Inc. engineers back to the state after relocating them to Texas.”
Here’s what hizzoner the gov’ner says to them:
The personalities at Fox News have a very sad case of California Derangement Syndrome. But here are the facts, as outlined by Bloomberg earlier this week.
📈 California’s gross domestic product surged 40% to more than $4 trillion, accounting for more than 14% of US output. This outpaced major economies including China (expanded 32%) and Germany (expanded 16%).
💰 California drove 40%+ of the growth in value of the nation’s publicly traded equities, despite being less than 12% of the entire U.S. population.
🎓 “With more than 600 colleges and universities, California today has no peers in higher education, whether in the US or any of the world’s developed economies.”
🏫 California has the highest density in higher education to create a top talent pipeline, with one college or university for every 64,000 citizens, more than the UK and Germany.
👷🏼 California produces more engineers than any other state.
🔬 Innovation, with California making up 62% of all U.S. venture capital funding and 31.5% of all venture capital deals last year. “For context, the runner-up in 2025 was New York with 13.3%. Massachusetts was next, just ahead of Texas — both below 6%.”
🩺 “California’s uninsured rate declined to a record-low 6.4% in 2023, the largest drop in the US, from more than 17% a decade ago.”
🚚 Infrastructure and trade keep the U.S. economy moving due to this administration’s infrastructure investments. California’s Port of Los Angeles is the “US gateway to global trade, handling more than $300 billion of cargo annually.”
Democrats have a great story to tell — especially in California. And when we go OFFENSE, we WIN.
THANK YOU FOR YOUR ATTENTION TO THIS MATTER!
Gavin Newsom
it sure isn’t from anything that Newsom is done. If you look at the numbers, people are fleeing the state, big businesses we could’ve had $100 trillion if people didn’t leave because of Newsums doings or not doings
I know it’s Friday, GIZZ, but it’s not even 10am….. put the cork back in until noon at least.
“Anything bad happening is because of Newsom’s doings or not doings, but nothing good happening could possibly be because of Newsom’s doings or not doings.”
Looks like Newsom is in full campaign mode.
Lots of ways to report the “facts”, certainly his opponents will have a grand time with this.
Does anyone except Newsom believe a liberal from CA can win the presidency in 2028?
What was reported here consists of facts.
What you regularly consume and regurgitate are “facts”, in the sense of truthiness.
The next president will be a democrat. They will jail republicans and withhold support and aid from red states.
Nah GT, Democrats aren’t sociopaths. Well yes, Republicans will be jailed because so many of them are criminals, but look at how Biden aided red states over the no votes of their representatives–who then took credit for the projects that they voted against funding.
Marcel, You know my love for hyperbole and your observation was better stated (and realistic)
Ignore the $40,000,000,000 Debt.
5 years ago CA had a $25 Billion surplus.
So Newsom blew through $75 Billion in five years.
Must me nice not having to balance a budget.
Gas, $8. Thank you Newsom,
That is totally delusional.