PIERRE, S.D. (KELO.com) — Tuesday, the Bureau of Economic Analysis (BEA) announced state gross domestic product (GDP) decreases for all 50 states. The South Dakota economy contracted by 2.2%, the second smallest amount in the country, for the first quarter of 2020, which covers January to March.
“The credit here goes to the people of South Dakota,” said Governor Kristi Noem. “Obviously, our low taxes and reasonable regulatory environment put us in a really good position to bounce back from this pandemic. We have trusted our people to do the right things for themselves, their loved ones, and – in turn – their communities, and we will continue to do so.”
To see the announcement from the BEA, visit bea.gov.
