August 3, 2017

California Poised to Pass the U.K. as the World’s Fifth-Largest Economy

The Golden State's gross domestic product was $2.6 trillion last year

  • California remains the world’s sixth-largest economy, with a 2016 gross domestic product of $2.60 trillion.
  • California’s gross state product growth was 2.9 percent last year, nearly double the national average.
  • The Bay Area outpaced the state and the nation for job growth between May 2016 and May 2017.

Although the Golden State’s job growth has slowed a bit in 2017, the economy remains a global powerhouse and may move up the rankings by the end of the year, an indicator that demand for housing in the state should remain robust.

Citing World Bank data, a report from the Palo Alto-based Center for Continuing Study of the California Economy says that the state remains the world’s sixth-largest economy, with a 2016 gross domestic product of $2.6 trillion. That’s slightly behind the U.K., which had a 2016 GDP of $2.62 trillion. California is the only U.S. state to rank among the planet’s 10 largest economies.

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