May 29, 2015

US economy likely shrank in 1st quarter but rebound expected

WASHINGTON (AP) — A brutal winter, plunging investment by energy companies and a widening trade gap likely combined to shrink the U.S. economy at the start of the year. But the slump is expected to prove short-lived. The government on Friday will issue its second of three estimates of the economy's performance, as measured by the gross domestic product, in the January-March quarter. Economists...

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