Tags: california | economy | rank

Calif. Economy Remains 9th Largest in World

By    |   Tuesday, 11 September 2012 12:20 PM

California’s economy is the ninth largest in the world for the second year in a row, generating $1.96 trillion in gross domestic product in 2011, according to data compiled by the World Bank and other sources.
The state has fallen from its peak position as the fifth-largest economy in the world a decade ago, according to the Sacramento Bee.
However, Dennis Meyers, the principal economist at the state Department of Finance denied the state was slipping, claiming that California’s economy grew by two percent last year.
Meyers told the Bee that the state “took some hits" in the recession, but "we're recouping that.”
Two California cities also rank way up there among economic powerhouses on the world stage, according to U.S. Bureau of Economic Analysis data from 2010. The Los Angeles metro area ranks 16th behind South Korea, for example, while the San Francisco Bay area would rank 20th behind Switzerland.

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Tuesday, 11 September 2012 12:20 PM
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