SACRAMENTO — (KMJ/KFSN) -California is now the fourth largest economy in the world, according to new data from the International Monetary Fund (IMF) and the U.S. Bureau of Economic Analysis (BEA).
The data shows California’s nominal GDP reached $4.1 trillion, surpassing Japan’s $4.02 trillion. California now sits behind only the U.S., China, and Germany in global rankings.
“California isn’t just keeping pace with the world-we’re setting the pace,” said Gov. Gavin Newsom in a statement. “Our economy is thriving because we invest in people, prioritize sustainability, and believe in the power of innovation. And, while we celebrate this success, we recognize that our progress is threatened by the reckless tariff policies of the current federal administration. California’s economy powers the nation, and it must be protected.”
This comes as the Coachella music festival just boosted the state’s economy, and Stagecoach is about to do the same. Newsom said these festivals fuel tourism, support local jobs and uplift small businesses and vendors.
Both festivals generate a combined $700 million for the local economy each year.
