Business Insider (06/25/14) Sam Ro
U.S. gross domestic product contracted by a 2.9% annualized rate in the first quarter, according to the U.S. Bureau of Economic Analysis. This revised estimate was down substantially from the previous estimated contraction of 1.0% and much worse than the expected 1.8% contraction. Personal consumption growth was cut to 1.0% from 2.4%.
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