Iowa’s GDP dropped 8% in pandemic-wracked second quarter, new report shows
BPC Staff Oct 5, 2020 | 4:10 pm
<1 min read time
88 wordsAll Latest News, Economic Development, Statewide NewsDes Moines Register: As orders and output of manufactured goods fell this spring, Iowa’s overall economic output dropped dramatically, according to new federal data. The U.S. Bureau of Economic Analysis in a Friday report valued the state’s gross domestic product at $179 billion in the April-June second quarter, the peak of the recession caused by the COVID-19 pandemic. That’s down about 8% compared with the same period last year, when the BEA valued Iowa’s economic output at $194 billion. It’s the lowest since the second quarter of 2016.
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