Friday , June 18 2021
Home / FRED / The impact of COVID-19 on U.S. states’ economic activity : State-level GDP data show the second quarter was much worse than the first

The impact of COVID-19 on U.S. states’ economic activity : State-level GDP data show the second quarter was much worse than the first

Summary:
View on GeoFRED® GDP comes in various forms—for the nation as a whole and also for individual U.S. states. The map above shows the change in real GDP in each U.S. state for the first quarter of 2020. This was at the start of the pandemic, and some states were hit hard. The worst declines were in Louisiana (-11.91%), Delaware (-11.43%), Wyoming (-10.53%), Hawaii (-8.92%), Wisconsin (-8.76%), South Carolina (-8.24%), and Michigan (-7.94%). The hope at the time was that this slump would be temporary. We now have the data for the second quarter: View on GeoFRED® While the colors of the map are similar, the actual values in the second quarter are much worse. To put this in perspective, consider that the decline in the worst state in the first-quarter map (-11.91% in Louisiana) was nowhere

Topics:
FRED Blog considers the following as important:

This could be interesting, too:

FRED Blog writes How inflation helps the stock market set records

FRED Blog writes Ceasing emergency federal unemployment benefits: A look at the latest state-level data

IMFBlog writes Chart of the WeekFour Factors Behind the Metals Price Rally

FRED Blog writes Teenagers’ labor force participation : BLS data on the evolution of summer jobs

GDP comes in various forms—for the nation as a whole and also for individual U.S. states. The map above shows the change in real GDP in each U.S. state for the first quarter of 2020. This was at the start of the pandemic, and some states were hit hard.

The worst declines were in Louisiana (-11.91%), Delaware (-11.43%), Wyoming (-10.53%), Hawaii (-8.92%), Wisconsin (-8.76%), South Carolina (-8.24%), and Michigan (-7.94%). The hope at the time was that this slump would be temporary. We now have the data for the second quarter:

While the colors of the map are similar, the actual values in the second quarter are much worse. To put this in perspective, consider that the decline in the worst state in the first-quarter map (-11.91% in Louisiana) was nowhere near the decline in the best state in the second-quarter map (-21.91% in Delaware). The numbers are astounding, with Hawaii, Nevada, and Tennessee losing over 40% of their economic activity.

To see more details and find your home state, click the link below each map in this post to reach the interactive maps on GeoFRED.

How these maps were created: From GeoFRED, after opening the cogwheel in the upper left corner, under “Region” choose “State,” under “Data” choose “Total Real Domestic Product by Industry,” under “Units” choose “Percent Change,” and then choose colors to taste. Use the arrows in the legend box (lower right corner) to switch dates.

Suggested by Christian Zimmermann.

About FRED Blog
FRED Blog
The Federal Reserve Bank of St. Louis is the center of the Eighth District of the Federal Reserve System. This District includes Arkansas, eastern Missouri, southern Illinois and Indiana, western Kentucky and Tennessee, and northern Mississippi.

Leave a Reply

Your email address will not be published. Required fields are marked *