Yesterday we learned that the US. economy came to a standstill during the first quarter. Now some analysts are saying it actually shrank.
The government’s official reading of domestic growth clocked in at a puny annual rate of 0.1 percent, falling short of even the most modest expectations. That number is a preliminary estimate based on incomplete data and will be revised twice more. After the release, many economists wrote off the number as a fluke and predicted the data would be adjusted upward.
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