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. "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. California last had the world's fifth largest economy in 2002 but fell as low as 10th in 2012 following the Great Recession. California's economic output is now surpassed only by the total GDP of the United States, China, Japan and Germany. California's economic juggernaut is concentrated in coastal metropolises around San Francisco, San Jose, Los Angeles and San Diego.

Source: ABC News May 04, 2018 20:18 UTC