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The Associated Press December 2, 2010, 5:19PM ET

Calif. retains economy that would be 8th largest

Despite three years of recession, California can still claim that it would have the world's eighth largest economy if it were a separate country.

That's according to a report released Thursday by the Palo Alto-based Center for Continuing Study of the California Economy.

The center looked at 2009 U.S. Commerce Department estimates for gross domestic product, which valued all goods and services produced in the state at $1.9 trillion.

When compared to data compiled by the World Bank, California falls behind Italy's $2.1 trillion GDP but ahead of Brazil's $1.6 trillion economy.

California's economy would be the 11th largest when using a method that compares purchasing power across countries.

Texas is the next largest state with a $1.1 trillion economy, followed closely behind by New York.

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