The latest on California politics and government
July 25, 2012
As it slowly recovers from its worst recession since the Great Depression, where does California’s economy fit into the global marketplace?
A massive new economic forecast from the Los Angeles County Economic Development Corp. confirms that were California a nation, it would place No. 9 among the globe’s economies, just behind No. 8 Italy and just ahead of Russia.
The data-filled report, to be unveiled today in Los Angeles, pegs California’s economy at just under $2 trillion a year (2011 numbers) and implies that it could move up or down in the rankings, depending on what happens to the volatile European economy. The state once ranked as high as sixth.
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