Last year’s coronavirus-induced recession hit Nassau harder than Suffolk, though the economies of both counties contracted from 2019 levels, according to data released Wednesday.
Nassau’s gross domestic product, the sum of all goods and services produced, totaled $83 billion in 2020, the federal Bureau of Economic Analysis reported. That’s a 6.4% drop from the previous year.
Suffolk’s GDP totaled $84.8 billion last year, down 4.3% from 2019.
The economic contraction on Long Island compared with a 5% decline in New York State and a 3.4% drop nationwide.
Most economic sectors on the Island had less activity than in 2019 because of the lockdown ordered by governments in the spring to slow the virus’ spread. The sole exception was finance and insurance, which expanded modestly between 2019 and 2020.
