• Story alerts
  • Letter to Editor
  • Pin it

Since the bottom of the Great Recession in 2009, and through 2012, San Diego's gross domestic product, or total output of goods and services, has grown only 4.5 percent, compared with 5.3 percent for Caifornia and 6.7 percent for the United States, according to economist Kelly Cunningham of the National University System Institute for Policy Research.

By comparison, San Jose (Silicon Valley) grew by 21 percent, highest among the nation's larger metro areas. San Diego was among the most slowly recovering metro areas such as Riverside-San Bernardino, Sacramento, and Las Vegas. As of last year, San Diego's economy had not quite reached the levels of production reached in 2007 and 2008, notes Cunningham.

Last year, the San Diego economy grew by 2.7 percent adjusted for inflation, but that lagged San Francisco (7.4 percent), Los Angeles/Orange County (3.1 percent), and San Jose/Silicon Valley (2.8 percent).

A big reason for San Diego's weak performance during the recovery period is that military and defense expenditures have softened since 2010, says Cunningham.

Government (federal, state, local) is the largest part of the local economy at 17.8 percent. Military contracting is large. Including government contracting, more than 25 percent of the local economy is generated by government spending.

  • Story alerts
  • Letter to Editor
  • Pin it

More from the web

Comments

Don Bauder Nov. 22, 2013 @ 9:57 p.m.

stingray: Yes, I got a chuckle out of that. I don't know who Beacon Economics is. For just one example, San Diego is lagging LA and Orange County in tourism. Best, Don Bauder

1

Sign in to comment

Join our
newsletter list

Enter to win $25 at Broken Yolk Cafe

Each newsletter subscription
means another chance to win!

Close