August 27, 2009
GDP Down 1% In Q2
By Matthew L. Brown
The country's Gross Domestic Product (GDP) fell at an annualized rate of 1 percent during the first quarter, the U.S. Bureau of Economic Analysis said.
Although the relatively small rate of economic shrinkage was a marked improvement from the 6.4 percent plunge GDP took in the first quarter, the decrease does represent the fourth consecutive quarter of economic contraction in the United States.
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