The US economy shrank slightly faster in the first quarter

The US economy shrank slightly faster in the first quarter

By Anneken Tappe, CNN BusinessAmerica’s economy shrank at a slightly faster rate than initially reported, the Bureau of Economic Analysis said Thursday.US gross domestic product, the broadest measure of economic activity, decreased at an annualized rate of 1.5%, adjusted for seasonal swings, according to the second estimate of the data.Last month, the Commerce Department’s advance estimate of the data showed GDP had contracted at a rate of 1.4%.…