INDIANAPOLIS (AP) — A federal report shows Indiana’s gross domestic product rose significantly in the third quarter, as consumers and businesses adapted to the coronavirus pandemic.
According to the U.S. Commerce Department report released Wednesday, Indiana’s real gross domestic product rose at a seasonally adjusted annualized rate of 43.3% from July through September. That’s up from negative 33% in the second quarter.
But The Indianapolis Star reports the state’s economy has yet to regain the ground it lost to virus-related business disruptions.
Michael Hicks is director of Ball State’s Center for Business and Economic Research. He says Indiana remains in the throes of a major recession.