Measuring L.A. GDP

Last year seems like a long time ago, but the government is just out with 2008 growth figures by metropolitan area, and L.A. and Orange Counties weighed in at a paltry 0.3 percent, down from 0.9 percent in 2007. That's quite a bit worse than the growth numbers among all metropolitan areas (0.8 percent in 2008, down from 2 percent in 2007). Real GDP growth slowed in 220 of the nation's 366 metro areas. The Bureau of Economic Analysis also tracks growth by industry, and on that score L.A.'s biggest drags in 2008 came from, not surprisingly, construction, trade and financial activities. LAEDC economist Jack Kyser breaks out other local numbers in the report.