Money

California Now World’s 6th-Largest Economy

According to the Sacramento Business Journal, June 15, 2016, California now has the world’s sixth-largest economy after surpassing France and India in 2015, according to new gross domestic product data from the International Monetary Fund.

The numbers show a rebound from 2014 when the state had slipped one spot to 8th place following a surge by Brazil, which has a population of 200 million. But Brazil was beset by recession last year and fell back to 10th place in the latest ranking.

The U.S. has the world’s largest economy with a GDP of $17.9 trillion. China placed second with a GDP of $10.9 trillion, followed by Japan, Germany and the United Kingdom.

After those countries, California took sixth place with a GDP of $2.4 trillion. California also tied with Oregon for the state with the highest jump in GDP last year by percentage, according to data released by the federal Bureau of Economic Analysis.

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