U.S. output decline over last 3 weeks akin to Indiana disappearing for a year, economist says

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Economic-analysis firm Moody's Analytics took a look at every county in the United States to estimate how the novel COVID-19 coronavirus pandemic has affected economic output. The results weren't pretty.

Government-ordered shutdowns of non-essential businesses have led to daily output declines in most counties, whether it be large ones like Los Angeles County or smaller ones in rural areas. Overall, the firm estimates the nation's daily output is down 29 percent from the first week of March before most businesses closed. In terms of dollars, that's $350 billion, which is reportedly more than triple the size of the decline in the weeks following the Sept. 11, 2001 terrorist attacks. Mark Zandi, Moody's chief economist, said the drop-off is akin to Indiana disappearing for an entire year.

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Tim O'Donnell

Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.