Report: R.I. GDP contracts at 40.6% annualized rate in Q2

PBN Staff

08/05/2020

Screen Shot 2020-08-05 at 1.13.28 PM — RHODE ISLAND GDP was estimated to have declined at a 40.6% annualized rate in the second quarter of 2020, according to the Center for Global and Regional Economic Studies at Bryant University and The Rhode Island Public Expenditures Council. / COURTESY THE CENTER FOR GLOBAL AND REGIONAL ECONOMIC STUDIES AT BRYANT UNIVERSITY AND THE RHODE ISLAND PUBLIC EXPENDITURE COUNCIL

PROVIDENCE – Rhode Island's gross domestic product declined at a 40.6% annualized rate in the second quarter, reflecting the severe economic impact of the COVID-19 pandemic, the Center for Global and Regional Economic Studies at Bryant University and the Rhode Island Public Expenditure Council said in a report released Wednesday. The state's GDP was estimated…

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