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Stronger Economic Growth in Quarter 2

Consumer – Led Economy

This section will look at the trends of the
economy such as the national gross domestic
product, personal consumption, confidence,
mortgage rates, and the job market as well as the
California-specific job market. Highlights include:

• The National Gross Domestic Product
increased at a rate of 3.1% in the
second quarter of 2017 (it only
increased 1.2% in Q1)

• Personal Consumption Expenditures
increased 3.3% in Q2; increased 1.9%
in Q1 of 2017

• The National Unemployment Rate was
a low 4.2% in September 2017 with
1.2% Job Growth

Source: US Department of Commerce, Bureau of
Economic Analysis
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