Massachusetts economy suffers worst quarter in history thanks to coronavirus, UMass study finds
The coronavirus pandemic, and the shutdown of most commerce in order to keep people home and save lives, knocked the Massachusetts economy for a loop, economists said Thursday. The state’s real gross domestic product (GDP) declined at an annualized rate of 43.8% in April, May and June, according to MassBenchmarks, a study of the state’s economy coordinated by the Federal Reserve Bank of Boston and the University of Massachusetts Donahue Institute.