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US economy shrinks 0.7%

By BFN News | 01:34 PM | Friday 29 May, 2015

US real gross domestic product decreased at an annual rate of 0.7% in the first quarter of 2015, according to the 'second' estimate released by the US Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.2%. The GDP estimate released today is based on more complete source data than were available for the 'advance' estimate issued last month. In the advance estimate, real GDP increased 0.2%. Story provided by

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