Despite the nation's economic outlook not being the best, a new report shows California is continuing to boom.
The report found that the Golden State is about to pass Germany to become the fourth largest economy in the world.
However, some economists say that's both good and bad news.
"California is not only big, innovative with a broad portfolio. That last part is one that strikes me, in some ways, as most important," said Jared Bernstein, member of President Joe Biden's Council of Economic Advisors. "California doesn't go all in on one thing. It's not just entertainment, it's not just manufacturing, it's not just education or hospitals or health. It's all of the above."
In a tweet, Gov. Gavin Newsom responded to the reports by saying the state's "growth continues to outpace other sates and nations."
"CA's best days are ahead of us," he tweeted.
Irena Asmundson, a research scholar at Stanford Institute for Economic Policy Research said California is doing well, but part of it is because Germany is shrinking in U.S. dollars.
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"That is not great for the world economy," she said. "It's very tied to the situation in Ukraine which is not great for the world economy," she said.
She also explained this shows the declining economic health of other countries, too.
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India, for example, is a country that should be much higher on the list.
"I would prefer if a lot of other countries were stronger," she said. "I think that it would be much easier for California to innovate and continue to have strong trading partners. I think we would be able to do even better if they were stronger."
