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Here's why some state economies are recovering faster than others

September 16, 2020. Summarized by summa-bot.

Tourists walk by newly reopened shops, Tuesday, June 9, 2020, in Boothbay Harbor, Maine. Many Maine tourists towns have seen a sharp drop in the number of visitors due to the coronavirus pandemic. (AP Photo/Robert F. Bukaty)

Maine, Rhode Island and Vermont are faring better than most states, but Hawaii's economy is sputtering. Here are some reasons why.

New York (CNN Business)Six months into the pandemic, some states are recovering faster than others from the severe economic blow.

As of last week, these states' economies were all operating at at least 88% of where they were in early March, ranking them high on the Back-to-Normal Index created by CNN Business and Moody's Analytics.

They stand in contrast to places like Hawaii, where the economy is sputtering at only 57% of where it was in early March, and even New York, which is operating at 73% of its pre-pandemic activity.

The states that are operating closest to "normal" are places that recorded the fewest coronavirus cases.

Maine's economy, for example, is operating at 93% of where it was in early March — making it No. 1 on the Back-to-Normal Index.

Rural states like Idaho, South Dakota and Nebraska boast stronger rebounds than densely populated states like New York, Texas and California, which rank among the bottom 15 states on the Back-to-Normal Index.

The Back-to-Normal Index in those states backtracked when cases surged and has largely gone sideways ever since.

It's heavily dependent on tourism, and as a result, it's the lowest-ranking state on the Back-to-Normal Index.

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