California’s economy continued to grow at a fast clip of 6% in 2024, according to data and Newsom’s office. The top three economies in the world all grew at slower rates: 5.3% in the entire U.S., 2.6% in China and 2.9% in Germany.

California has surpassed Japan to become the world’s fourth-largest economy, Gov. Gavin Newsom said, as he warned of the threat posed by President Donald Trump’s tariffs to the tech powerhouse’s fast-growing wealth.

California's economy has overtaken that of the country of Japan, making the US state the fourth largest global economic force. Governor Gavin Newsom touted new data from the International Monetary Fund (IMF) and the US Bureau of Economic Analysis showing California's growth.