Tech Industry Makes California Fifth Largest Economy

Tech Industry Makes California Fifth Largest Economy

California’s economy just keeps growing and growing. It may be getting closer to becoming its own country as people have reportedly been campaigning to accomplish.  According to a news report on NBC Bay Area News, California’s economy has surpassed that of the United Kingdom to become the world’s fifth largest economy, according to federal data made public. It has added two million jobs and grown its GDP by $700 billion.

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 second largest state, is home to nearly 40 million people. According to NBC Bay Area News, California is “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.” Read more about this story on NBC Bay Area News here.

San Francisco, San Jose, Los Angeles and San Diego, lead the full California economic force. 79% of us believe the tech industry is the reason for California’s economy power, while only 21% think it has to do with the movie industry.

Here’s how people on the Zip app are weighing in on this all over the country!

California’s economy is now the fifth largest in the world, surpassing the United Kingdom. Why do you think this is?

Zip users in 159 cities and 36 states weighed in on this question.

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