The latest data shows the U.S. economy contracted significantly - TopicsExpress

The latest data shows the U.S. economy contracted significantly more than previously estimated in the first quarter of this year. On Wednesday, the Bureau of Economic Analysis released its third and final estimate of real gross domestic product for the first three months of 2014. The release showed output in the U.S. declining at an annual rate of 2.9%. This is relative to fourth quarter 2013, when real GDP grew 2.6%.

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