Gross State Product ( Gsp ) Essay

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Gross State Product (GSP) is defined as the measurement of the market value amount of economic output that a state has put out in a certain amount of time using its goods and services. The current GSP and Gross Domestic Product(GDP) of the United States must be calculated using quarter four of 2015 because 2016 isn’t over yet. The level of GSP in California in 2015 is $2,229,070 million dollars, which is about 13.8% of the Gross Domestic Product of the whole United States calculated around $16,146,736 million dollars; this puts California as the state with the most impact on the GDP, right above Texas. which currently impacts GDP of the U.S. at 9.2%. In the beginning of 2015, California had a GSP of $2,171,390 million, while in the end of 2015 it was $2,229,070 million. This demonstrates a yearly change of approximately 2.7%, calculated by using the beginning and end values of the 2015 GSP. Relating to 2015, we calculated the GSP increase in 2014 as 2.5%; this may signify that the approximate rate of GSP increases by about the same rate every year. The GSP, in most cases, would be increasing due to the state output factors being demanded more each year. In 2015, the industry total (GSP) ended at $2,229,070 million, with private industries occupying 88% and government occupying 12% of the GSP. The main private industries that impact this 88% would be manufacturing at 12.5%, and real estate, rental, and leasing at 18.6%. The real estate, rental, and leasing industries
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