California’s economy is on the move, poised to overtake that of Brazil, a country with a population five times that of our state, according to published reports.
Bloomberg News examined the recent growth of the state’s economy, valued at $2.2 trillion in 2013. If California's economy continues to expand as it has – growing more than 4% a year from 2011 to 2013 – it will likely surpass that of Brazil to make it the seventh largest economy in the world.
Brazil’s gross domestic product declined in 2014 to $2.25 trillion according to the report.
“What’s interesting about that is Brazil has a population about 5 times of California but yet we have more economic strength,” said NBC 7 business reporter George Chamberlin.
Get more details on the report from Bloomberg News here.
