California Slips To World’s 9th Largest Economy

PALO ALTO (CBS/AP) – The recession has taken a measurable toll on California, which has slipped behind Brazil to become the ninth-largest economy in the world.

As recently as 2002, California’s economic output would have ranked it No. 6 in the world.

KCBS’ Anna Duckworth Reports:

The Palo Alto-based Center for Continuing Study of the California Economy issued a report this month saying California had a $1.9 trillion economy in 2010, putting it just ahead of India. California, with a population of 37.5 million, previously had the eighth largest economy, behind Italy and ahead of Brazil.

The center used estimates of gross domestic product from the U.S. Department of Commerce and compared it with the World Bank’s estimates of world economies.

Based on purchasing power across countries, California continues to rank as the world’s 11th largest economy.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

Comments

One Comment

  1. mj says:

    The headline should have been AS EXPECTED California Slips To World’s 9th Largest Economy.

  2. lee says:

    Corrupt California DEA where stealing drugs from evidence vaults and reselling them to cover extensive credit card debt.
    They also are creating suspects by planting evidence just so that they can steal from them.
    Given the choice of suspension or dealing with their debt most DEA are thinking outside the box.

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