US economy shrank at 1 percent rate in Q1 (2)

The State 2014.05.29 20:50
WASHINGTON - The U.S. economy was battered even more than first suspected by the harsh winter, actually shrinking from January through March. The result marked the first retreat in three years, but economists are confident the downturn was temporary. Gross domestic product contracted at an annual rate of 1 percent in the first quarter, the Commerce Department said Thursday.
ECONOMIST, GDP, ECONOMY, CONTRACTION, CUTBACK, PERCENTAGE, Shepherdson, Furman, USA