Business and industry have been in flux since the rolling out of nationwide pandemic safety constraints in March. While some lucky players like Zoom and Amazon have profited from stay-at-home mandates, many businesses have seen serious downturns.
In every state, the net effect has been a decrease in gross domestic product (GDP). But some states have been hit harder than others. Now that we have numbers from the second quarter (Q2) of 2020,¹ we can start to more fully assess the economic impact of COVID-19 on individual states and industries as compared to fourth quarter (Q4) numbers from 2019.