FRED has the latest state-level GDP data for 2020, and there’s a range of economic decline across the United States.
This GeoFRED map shows regional differences in how state economic growth has been affected by the COVID-19 outbreak—from 8% declines in Nevada and New York to a 1.3% slump in Nebraska.
What determines how a state’s economy is affected? This question is complex, as it depends on many factors: the severity of the outbreak, how much confinement was mandated, how seriously it was followed, how many people voluntarily restrained their activity, and the prevalence of economic activities that are most susceptible to shutdowns. Obviously, tourism and entertainment were most affected—with Nevada and Louisiana being important states in this respect and Nebraska much less so.
The situation is still evolving. In about three months, FRED will have data for the second quarter and the map could look very different, hopefully with at least some states showing growth.
How this map was created: The original post referenced an interactive map from our now discontinued GeoFRED site. The revised post provides a replacement map from FRED’s new mapping tool. To create FRED maps, go to the data series page in question and look for the green “VIEW MAP” button at the top right of the graph. See this post for instructions to edit a FRED map. Only series with a green map button can be mapped.
Suggested by Christian Zimmermann.