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US economy contracts more than estimated in first quarter: Govt

World News

26-06-2025 | 08:46

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US economy contracts more than estimated in first quarter: Govt

The U.S. economy contracted more than previously estimated in the first three months this year, according to government data released Thursday, with consumer spending and exports weaker than expected.

U.S. GDP decreased at an annual rate of 0.5 percent in the first quarter, according to the Department of Commerce, down from an earlier estimate of a 0.2 percent decline.

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