Home   >   More   >   Hot Links   >   [Bloomberg] California becomes world’s 7th largest economy, surpasses Brazil

[Bloomberg] California becomes world’s 7th largest economy, surpasses Brazil

January 16, 2015
California Seal

(Courtesy of Ca.gov)

California is overtaking Brazil as the world’s seventh-largest economy, bolstered by rising employment, home values and personal and corporate income, a year after the most-populous state surpassed Russia and Italy.

The Golden State, with an equivalent gross domestic product of $2.20 trillion in 2013, expanded last year by almost every measure, according to data compiled by Bloomberg. Brazil’s gross domestic product, in contrast, declined 1 percent from $2.25 trillion in the first three quarters of 2014 as its export of raw materials fell.

[READ MORE]