Illinois economy shrinks 4% in 2020 despite 4th quarter growth – Capitol News IL

Preliminary numbers released last week by the U.S. Department of Labor’s Bureau of Economic Analysis, showed that the leisure, hospitality and food service sector was the hardest hit by the pandemic, reporting a nearly 30 percent drop in economic output for the year. That was due to the forced closure of bars, restaurants, theaters, amusement parks and most tourist attractions in the early phases of the pandemic, as well as the cancellation of large conventions and business meetings.