California is now the world’s 8th
largest economy, beating Russia and Italy and closing in on Brazil, the UK and France. With GDP of $2.203 trillion, the state is growing faster than the US average and many other countries. This is particularly good news following recent declines. The boost in fortune is in part due to new methodology for calculating GDP, allowing intellectual property to be included. As a world leader for movies and software, California couldn’t fail to be boosted by its creative industries. Read the full story.