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US economy suffers sharpest contraction in decades

Official data shows the US economy contracted by 9.5% between April and June.

Official data shows the US economy contracted by 9.5% between April and June. It's the worst performance since the country started keeping records in 1947, and the Βι¶ΉΤΌΕΔ's Samira Hussein in New York brings us the details. Meanwhile emergency financial support for the unemployed in the US is due to end this week, unless Congress comes up with a new package of measures. Professor Tara Sinclair of George Washington University explains whether a deal seems feasible. Also in the programme, as the world's biggest brewer AB InBev reports that sales fell by nearly a third in the month of April, we get more details from the firm's chief financial officer, Fernando Tennenbaum. And we hear why the Saudi bid to buy Newcastle United football club has fallen through.

(Picture: A closed shop in California. Picture credit: Getty Images.)

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27 minutes

Last on

Thu 30 Jul 2020 21:32GMT

Broadcast

  • Thu 30 Jul 2020 21:32GMT