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Published 2 years ago

The US economy shrank 1.6% in the first quarter, adding to recession fears

Summary by Ground News
The US economy shrank at a slightly faster rate than previously estimated during the first quarter. Real gross domestic product declined at an annualized rate of 1.6% from January to March. The data adds to fears that a recession may be looming. The advance estimate for second-quarter GDP performance is scheduled for release on July 28.

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