Jul 30, 2020

The worst economic weakness we’ve seen

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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.

Segments From this episode

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

Jul 30, 2020
It's by far the worst quarterly plunge ever.
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

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

Jul 30, 2020
Le Panier Bleu is meant to help local stores compete with online retail giants.
Almost 20,000 businesses had signed up to be featured on the site as of June.
Sebastien St-Jean/AFP via Getty Images

Music from the episode

Tower Seven Thievery Corporation

The team

Nicole Childers Executive Producer
Victoria Craig Producer, BBC
Stephen Ryan Producer, BBC
Jonathan Frewin Producer, BBC
Daniel Shin Producer
Candace Manriquez Wrenn Producer/Editor
Brian Allison Engineer
Alex Schroeder Digital producer
Meredith Garretson Producer
Rose Conlon Producer
Erika Soderstrom Producer/Director