Real gross domestic product (GDP) decreased in all 50 states and the District of Columbia in the first quarter of 2020, according to statistics released today by the U.S. Bureau of Economic Analysis. The percent change in real GDP in the first quarter ranged from -1.3 percent in Nebraska to -8.2 percent in New York and Nevada (table 1).
Accommodation and food services; finance and insurance; healthcare and social assistance; and arts, entertainment, and recreation were the leading contributors to the decrease in real GDP nationally (table 2). Accommodation and food services was the leading contributor to the decrease in Nevada. Finance and insurance was the leading contributor to the decrease in New York.
Accommodation and food services decreased 26.8 percentRead More »