Is California still the world’s 5th largest economy?


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Could California lose its bragging rights as the world’s fifth-largest economy? My trusty spreadsheet found that the Golden State could fall one notch in 2024 to fast-growing India in this theoretical ranking of economic heft, as measured by Gross Domestic Product – a broad measure of business output. Let’s start by noting that California businesses produced $3.86 trillion worth of goods and services in 2023, as tracked by the US Bureau of Economic Analysis. Now, we’ll put that into a global perspective using figures from the International Monetary Fund. In 2023, only four national economies were larger than California, by...