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Politics / Re: Tanko Muhammad: Termites Ate My School Certificates, - New CJN Says by xeleb(m): 5:05pm On Jul 29, 2019
it is ok
Politics / Re: I am going to pioneer serious taxation for wealthy Nigerians - Aregbesola by xeleb(m): 5:01pm On Jul 29, 2019
ogbeni

4 Likes

Sports / Re: South Korean Soccer Fans To Sue The Festa over Ronaldo benching by xeleb(m): 4:45pm On Jul 29, 2019
about the south Korea money, was so supreme , 25 dollars equal 30000, nigeria money even get value pass am, which kain misery be this, south Korea , home of Samsung ,LG , and other big companies, who know why is so

1 Like 1 Share

Politics / Re: Outrage As Robbers Stab UNIUYO Student by xeleb(m): 4:40pm On Jul 29, 2019
God safe us
Religion / Re: Ruth Ifunanya Muoka And Lucky Oha Wedding Pictures by xeleb(m): 4:39pm On Jul 29, 2019
follow follow
Agriculture / Re: Palm Tree Growing Inside A High Tension Electric Pole In Delta State (Photos) by xeleb(m): 4:33pm On Jul 29, 2019
Allah Akbar
Sports / Re: Ganduje, Deputy Governors Take Cover, As Police Teargas Fans After Aiteo Game by xeleb(m): 11:07am On Jul 29, 2019
hmmm
Celebrities / Re: Skales and Akon Pictured Together In A Studio (Photo) by xeleb(m): 11:07am On Jul 29, 2019
.skill my guy
NYSC / Re: 22 Kano Corpers To Repeat Service Year – Coordinator by xeleb(m): 11:06am On Jul 29, 2019
,
Celebrities / Re: Davido And Chioma Spotted Together After A Long Time by xeleb(m): 11:06am On Jul 29, 2019
love bird
Sports / Re: Unai Emery Appoints New Captain After Fall Out With Koscielny by xeleb(m): 11:05am On Jul 29, 2019
.COYG
Travel / Re: Inside Kola Aluko’s Seized Galactica Star Superyacht That Just Sold For ₦15B by xeleb(m): 10:01am On Jul 29, 2019
YOLO
Sports / Re: Ahmed Musa Trains With Locals Where He Grew Up In Jos(photos) by xeleb(m): 9:11pm On Jul 27, 2019
good ,don't forget where it all began
Celebrities / Re: Chris Brown Dancing To Naira Marley's "Soapy" (Photos) by xeleb(m): 4:55pm On Jul 27, 2019
zanku
TV/Movies / Re: #bbnaija: Frodd & Ike Plot Love Revenge On Esther And Nelson (day 26) by xeleb(m): 8:52pm On Jul 26, 2019
Food my guy
Politics / Re: Diseye Nsirim-Poweigha Contesting For Governor In Bayelsa (Photos) by xeleb(m): 8:35pm On Jul 26, 2019
good, gender equality

3 Likes 1 Share

Sports / Re: K-League Stars Mock Cristiano Ronaldo Goal Celebration In 3-3 Juve Draw (Photos) by xeleb(m): 8:32pm On Jul 26, 2019
haha , see this one , who know am
Jobs/Vacancies / Re: The Job Seeker Daily Routine And Why You Will Get Hired by xeleb(m): 7:17pm On Jul 26, 2019
hmm , no time for exercise
Celebrities / Re: Man Photobombs Nadia Buari's Picture by xeleb(m): 9:55pm On Jul 25, 2019
my crush

2 Likes

Politics / Re: Fani-kayode Congratulates Sharon Ikeazor, Gbemi Saraki On Ministerial Nomination by xeleb(m): 9:54pm On Jul 25, 2019
support my hustle, check my signature
Politics / Re: Orji Kalu’s Children Meet Ahmad Lawan, Senate President (Photos) by xeleb(m): 9:52pm On Jul 25, 2019
ehehe , wahala dey
Religion / Re: Folakemi Kuforiji Dances Gbe Body / Zanku Legwork In Church by xeleb(m): 9:49pm On Jul 25, 2019
good
Crime / Re: Phone Thief Burnt To Death In Akwa Ibom (Graphic Photos) by xeleb(m): 9:39pm On Jul 24, 2019
Seriously, this too bad , when is these blood shedin, ending
TV/Movies / Re: BBNaija: Avala Speaks After Eviction by xeleb(m): 8:21pm On Jul 08, 2019
.
Nairaland / General / California 5th Largest Economy In The World, Surpassing UK by xeleb(m): 6:05pm On May 05, 2018
California now world’s fifth largest economy, surpassing UK



California’s economy has surpassed that of the United Kingdom to become the world’s fifth largest, according to new federal data made public 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 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.

“We have the entrepreneurial spirit in the state, and that attracts a lot of talent and money,” said Sung Won Sohn, an economics professor at California State University Channel Islands. “And that’s why, despite high taxes and cumbersome government regulations, more people are coming into the state to join the parade.”

All economic sectors except agriculture contributed to California’s higher GDP, said Irena Asmundson, chief economist at the California Department of Finance. Financial services and real estate led the pack at $26 billion in growth, followed by the information sector, which includes many technology companies, at $20 billion. Manufacturing was up $10 billion.

California last had the world’s fifth largest economy in 2002 but fell as low as 10th in 2012 following the Great Recession. Since then, the largest U.S. state has added 2 million jobs and grown its GDP by $700 billion.

California’s economic output is now surpassed only by the total GDP of the United States, China, Japan and Germany. The state has 12 percent of the U.S. population but contributed 16 percent of the country’s job growth between 2012 and 2017. Its share of the national economy also grew from 12.8 percent to 14.2 percent over that five-year period, according to state economists.

California’s strong economic performance relative to other industrialized economies is driven by worker productivity, said Lee Ohanian, an economics professor at University of California, Los Angeles and director of UCLA’s Ettinger Family Program in Macroeconomic Research. The United Kingdom has 25 million more people than California but now has a smaller GDP, he said.

California’s economic juggernaut is concentrated in coastal metropolises around San Francisco, San Jose, Los Angeles and San Diego.

“The non-coastal areas of CA have not generated nearly as much economic growth as the coastal areas,” Ohanian said in an email.

The state calculates California’s economic ranking as if it were a country by comparing state-level GDP from the Bureau of Economic Analysis at the U.S. Department of Commerce with global data from the International Monetary Fund.
Phones / Re: PSP Forum(PSP Emulator For Android/iPhone) by xeleb(m): 9:52am On Jan 06, 2018
Pls add 08032690034

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