California's Economy Now Larger Than France's
- 8 years ago
With a gross domestic product of roughly $2.5 trillion, California now has the 6th largest economy on the planet, leaping ahead of France, India, and Brazil.
California has had some tough times in recent years, but based on new data released by the Bureau of Economic Analysis, the state appears to be leaving its troubled days behind, notes Bloomberg.
With a gross domestic product of roughly $2.5 trillion, the Golden State now has the 6th largest economy on the planet, leaping ahead of France, India, and Brazil.
According to Business Insider, the only places that have higher numbers than California are entire nations, including the U.S., China, Japan, Germany and the U.K.
Growth in the state was big throughout 2015, coming in at 5.7% and landing only slightly behind top-ranked Oregon, but it wasn’t the only propelling factor.
Irena Asmundson, chief economist at the California Department of Finance, noted figures were aided by, “exchange-rate movements of the U.S. dollar versus other currencies.”
Technology is one of the major drivers in the turnaround, with companies including Apple, Google, and Facebook calling the state home. Agriculture and manufacturing are also among California’s leading industries.
California has had some tough times in recent years, but based on new data released by the Bureau of Economic Analysis, the state appears to be leaving its troubled days behind, notes Bloomberg.
With a gross domestic product of roughly $2.5 trillion, the Golden State now has the 6th largest economy on the planet, leaping ahead of France, India, and Brazil.
According to Business Insider, the only places that have higher numbers than California are entire nations, including the U.S., China, Japan, Germany and the U.K.
Growth in the state was big throughout 2015, coming in at 5.7% and landing only slightly behind top-ranked Oregon, but it wasn’t the only propelling factor.
Irena Asmundson, chief economist at the California Department of Finance, noted figures were aided by, “exchange-rate movements of the U.S. dollar versus other currencies.”
Technology is one of the major drivers in the turnaround, with companies including Apple, Google, and Facebook calling the state home. Agriculture and manufacturing are also among California’s leading industries.