Stories

California passes U.K. on global economic chart

The Hollywood sign in California.
Photo: RB/Bauer-Griffin/GC Images

California has reclaimed its spot as the world's fifth-biggest economy, passing the U.K. and trailing only the U.S. as a whole, China, Japan and Germany, the AP reports citing federal data.

Why it matters: "The data demonstrate the sheer immensity of California's economy, home to nearly 40 million people, 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. It also reflects a substantial turnaround since the Great Recession."