Output 2017-11-16T00:48:13+00:00

Output

Gross domestic product (GDP) is the broadest measure of economic activity. It is the sum of the value of all goods and services produced in an economy. GDP and output are highly correlated with incomes and the wellbeing of a region. The more a region can produce, the more income the region is generating and the more workers in that region can earn.

This indicator was obtained from the Bureau of Economic Analysis (BEA). GDP is in 2009 chained dollars.

This graph shows real GDP, adjusted for inflation, for the NSJV. While employment in the NSJV peaked in 2007, real GDP actually peaked in 2006. The NSJV then saw 4 straight years of decreasing, or stagnant real GDP before seeing small increases beginning in 2011. In 2014 and 2015 growth in real GDP did increase to 3.5% and 4.2%, respectively. However, this is still not the same level of growth experienced by the NSJV in the early 2000s. Real GDP finally reached a new high in 2015. There are two other things worth noting about the real GDP data. First, the data is subject to revision. Last year the Bureau of Economic Analysis estimated preliminarily that growth in real GDP for 2014 was only 0.4%. This was revised up to 3.5% this year, but could be revised again. The 4.2% growth rate estimated for 2015 will most likely be revised as well. Second, nominal GDP (not adjusted for inflation) in 2015 was 16.7% higher than real GDP.

Real GDP (2009$) by industry and county

Industry 2006 Output (in millions) % of County Total 2006 2016 Output (in millions) % of County Total 2016 LQ California 2016 LQ US 2016
MERCED
Ag & Natural Resources 905 13.81% (D) (D) (D) (D)
Construction 534 8.15% 221 2.93% 0.81 0.74
Manufacturing 1,041 15.88% 944 12.53% 1.14 1.05
Wholesale Trade (D) (D) 247 3.28% (D) (D)
Retail Trade 548 8.36% 518 6.88% 1.20 1.23
Trans and Warehousing 222 3.39% 246 3.27% 1.47 0.17
Information 184 2.81% 63 0.84% 0.09 0.15
Financial Activities 604 9.21% 694 9.21% 0.44 0.47
Prof & Business Services 260 3.97% 276 3.66% 0.28 0.29
Ed & Health Services 386 5.89% 531 7.05% 0.97 0.84
Leisure & Hospitality 171 2.61% 160 2.12% 0.52 0.55
Other Services 186 2.84% 150 1.99% 0.98 0.94
Government 1,161 17.71% 1,509 20.03% 1.68 1.67
STANISLAUS
Ag & Natural Resources 1,244 7.46% 1,525 8.75% 6.68 2.62
Construction 1,049 6.29% 834 4.78% 1.33 1.21
Manufacturing 2,754 16.52% 2,608 14.96% 1.36 1.25
Wholesale Trade 822 4.93% (D) (D) (D) (D)
Retail Trade 1,580 9.48% 1,499 8.60% 1.50 1.43
Trans and Warehousing (D) (D) 648 3.72% 1.67 1.37
Information 294 1.76% 176 1.01% 0.11 0.18
Financial Activities 2,224 13.34% 2,257 12.95% 0.62 0.66
Prof & Business Services 1,081 6.48% 1,053 6.04% 0.45 0.47
Ed & Health Services 1,466 8.79% 2,194 12.59% 1.73 1.49
Leisure & Hospitality 495 2.97% 578 3.32% 0.81 0.86
Other Services 526 3.15% 418 2.40% 1.18 1.13
SAN JOAQUIN
Ag & Natural Resources 1,056 4.80% 1,368 5.89% 4.50 1.76
Construction 1,998 9.07% 944 4.06% 1.13 1.03
Manufacturing 2,317 10.52% 2,130 9.17% 0.83 0.77
Wholesale Trade 1,445 6.56% 1,800 7.75% 1.42 1.72
Retail Trade 1,883 8.55% 1,831 7.88% 1.37 1.31
Trans and Warehousing 1,307 5.94% 1,771 7.63% 3.43 2.82
Information 436 1.98% 415 1.79% 0.19 0.32
Financial Activities 3,282 14.91% 3,673 15.81% 0.75 0.80
Prof & Business Services 1,290 5.86% 1,396 6.01% 0.45 0.47
Ed & Health Services 1,746 7.93% 2,238 9.64% 1.32 1.14
Leisure & Hospitality 685 3.11% 702 3.02% 0.73 0.78
Other Services 647 2.94% 631 2.72% 1.33 1.28
Government 3,413 15.50% 3,681 15.85% 1.33 1.32

This indicator was obtained from the Bureau of Economic Analysis (BEA). GDP is in 2009 chained dollars.

This table shows real GDP, adjusted for inflation, by industry for each of the NSJV counties. It also contains information on location quotients using both California, and the United States as reference areas. A location quotient is a method of measuring how concentrated an industry is within a geography compared to a reference geography. Not surprisingly, the location quotient for all three counties is highest in the Agriculture & Natural Resources industry, highlighting the importance of agriculture to the region. Besides agriculture, Government is a large industry in all three counties, along with Financial Activities and Manufacturing. Educational & Health Services is the only other industry to see across the board increases in real GDP since 2005. Not surprisingly, Construction took the hardest hit since 2005, decreasing by an incredible $1.7 billion in output.