California Now the Fifth-Largest Economy in the World
All economic sectors except agriculture contributed to California's higher gross domestic product, according to new federal data.
- Published 4 May 2018
This article was republished here with permission from The Associated Press, however it is no longer available to read on Snopes.com.
SACRAMENTO, Calif. (AP) — California’s economy has surpassed that of the United Kingdom to become the world’s fifth largest, according to new federal data made public Friday. California’s gross domestic product rose by $127 billion from 2016 to 2017, surpassing $2.7 trillion, the data said. Meanwhile, the UK’s economic output slightly shrunk over that time when measured in U.S. dollars, due in part to exchange rate fluctuations. The data demonstrate the sheer immensity of California’s…