Moody's Analytics estimates Louisiana could see a 46% decline in revenues in a severe economic downturn. "Coronavirus-Hit State Budgets Create a Drag on U.S. Recovery" at 05:30 ET on Aug. 12, omitted the severity of the downturn underlying the estimate. In addition, state and local governments spent or invested $3.1 trillion in 2019, equivalent to 14.7% of gross domestic product. The same article said they spent or invested $2.33 trillion in 2019, equivalent to 10.9% of gross domestic product.

(END) Dow Jones Newswires

August 14, 2020 19:08 ET (23:08 GMT)