Maris Research

State-Level GDP in 2020

Share on facebook
Share on facebook
Share on twitter
Share on linkedin

Real gross domestic product (GDP) decreased in all 50 states and the District of Columbia in 2020 compared to 2019 as a result of widespread economic shutdown due to COVID-19. According to the U.S. Bureau of Economic Analysis (BEA), the percent change in real GDP ranged from 0.1 percent decline in Utah to 8.0 percent decline in Hawaii.

Nationwide, growth in real GDP, measured on a seasonally adjusted annual rate basis, contracted 3.5 percent in 2020, after an increase of 2.2 percent in 2019. Declines in personal consumption expenditures (led by accommodation and food services; arts, entertainment, and recreation; and healthcare and social assistance), exports, private inventory investment, nonresidential fixed investment, and state and local government contributed to the decrease in real GDP across the country.

Regionally, real GDP growth contracted in all the regions from 2019 to 2020. The percent change in real GDP ranged from 1.5 percent decline in Rocky Mountain to 4.7 percent decline in the Mideast.

The private goods and services producing sectors, as well as the state and local government sector contributed to the decrease in real GDP in 2020. Overall, 16 out of

... continue reading 3rd party author's post at source website

order-1586392_1280

Can't Get Enough Freebies? Subscribe to our Newsletter!

We will send you free research and analysis summarized at the end of each month.

Newsletter Sign up

Top Posts

PLACE HOLDER FOR AD PAGE – SEE 18:– OF VIDEO.€

What is Flywheel?

notes-150587_1280

More Articles.

rjmaris

Gold's sharp rise throws Financial Times into an erroneous sulk

 — Published: Wednesday, 29 July 2020 | Print  | Disqus  Dear Friend of GATA and Gold: Appended is tomorrow’s editorial in the Financial Times, which, taking note of gold’s sharp rise in price, begins with a factual error, goes on to sulk for six paragraphs, and concludes with the hope and expectation that gold will

Read More »
Jessica Wheater

Financing decarbonisation: Green hydrogen (projects) under the microscope – hosted by Shearman & Sterling

Hydrogen is set to transform from fringe fuel to mega-billion industry over the 21st century, and with green hydrogen offering to almost entirely eliminate emissions by using renewables, governments, developers and financiers are quickly recognising it’s radical potential. Pipelines are growing, but key questions remain over how these projects will be financed. GFC Media Group

Read More »

Get content like this sent directly to your inbox!

Follow OnceBurned

Share on facebook
Share on twitter
Share on linkedin
Scroll to Top