Data from the Bureau of Economic Analysis shows San Francisco’s economy last year grew significantly faster than any of the top 10 metro areas in the nation, according to an analysis by SpareFoot Moving Guides.
The San Francisco-Oakland-Hayward Metropolitan Statistical Area (MSA), ranked seventh in the U.S., generated a gross domestic product dollar value of $406.2 billion in 2016, a 5.4 percent increase from the previous year, the analysis said.
According to the BEA’s data, the finance, insurance, real estate sector contributed most to San Francisco’s GDP growth, boosting the area economy by 1.56%. Unsurprisingly, the information technology sector contributed nearly a full point to GDP growth, while transportation and business services also saw strong growth.
Read more: SpareFoot Moving Guides & NBS Bay Area SF’s Economy is Fastest Growing Among Nation’s Top 10 Metros