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US Economy Shrinks More Than Expected

The U.S. economy shrank at a faster pace than first thought at the beginning of this year. Wednesday's report from the Commerce Department says the economy shrank at a 2.9 percent annual pace in January, February, and March. That is much worse than earlier estimates, and the worst economic growth figures in five years. Economists blame the slowdown on unusually foul winter weather, and many predict the problem will be temporary. But a second economic study showed orders for...

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