California overtakes UK in term of GDP
May 16th, 2018
Despite having a population of only 40 million compared with the UK’s 65 million California’s economy has surpassed that of the United Kingdom to become the world’s fifth largest, according to new federal data made public last Friday. California’s gross domestic product rose by $127 billion from 2016 to 2017, surpassing $2.7 trillion, the data said. Meanwhile, the UK’s economic output slightly shrunk over that time when measured in U.S. dollars, due in part to exchange rate fluctuations. The data demonstrates the sheer immensity of California’s economy: a thriving technology sector in Silicon Valley; the world’s entertainment capital in Hollywood and; the nation’s salad bowl in the Central Valley agricultural heartland.
Source: Technical Connection