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Jul 30, 2020

The worst economic weakness we’ve seen

In the second quarter, GDP contracted at an annual rate of nearly 33%. Regionally, economic activity declined far more in areas reliant on sectors like manufacturing and tourism. Plus, how Quebec is trying to help local businesses stay afloat.

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The Commerce Department’s estimate of the second-quarter decline in GDP marked the sharpest such drop on records dating to 1947.
Valerie Macon/AFP via Getty Images

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Segments From This Episode

U.S. economy shrank at record-breaking 33% rate last quarter
by Associated Press
Valerie Macon/AFP via Getty Images
It’s by far the worst quarterly plunge ever.
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A regional look at GDP declines: Steeper drops in areas of the U.S. that rely on sectors suffering the brunt of the pandemic's effects
That includes places like Detroit, Michigan, which relies on manufacturing, and parts of Florida, which rely on tourism. Marketplace’s Nova Safo reports.
Quebec uses online business directory to encourage consumers to buy local
by Emma Jacobs
Sebastien St-Jean/AFP via Getty Images
Le Panier Bleu is meant to help local stores compete with online retail giants.
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Music from the episode

The Team

David Brancaccio Host
Victoria Craig Host, BBC
Stephen Ryan Senior Producer, BBC
Jonathan Frewin Producer, BBC
Daniel Shin Producer
Jay Siebold Technical Director
Meredith Garretson Morbey Senior Producer
Alex Schroeder Producer
Erika Soderstrom Producer
Rose Conlon Producer
Brian Allison Technical Director

Marketplace®

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The worst economic weakness we’ve seen

Subscribe:

Segments From This Episode

U.S. economy shrank at record-breaking 33% rate last quarter

A regional look at GDP declines: Steeper drops in areas of the U.S. that rely on sectors suffering the brunt of the pandemic's effects

Quebec uses online business directory to encourage consumers to buy local

Music from the episode

The Team