U.S. Economy Shrank at 1 Percent Rate in Q1

By Martin Crutsinger - May 29, 2014

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WASHINGTON (AP) — The U.S. economy was battered even more than first suspected by the harsh winter, actually shrinking from January through March. But economists are confident the contraction was temporary. The economy contracted at an annual rate of 1 percent in the first quarter, the Commerce Department said Thursday. That was worse than the government's initial estimate last month that...

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