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U.S. GDP Declines 0.3% as Economy Shrinks for First Time in 3 Years

The U.S. economy shrank in the first quarter despite underlying strength in consumer spending and business investment. Gross domestic product contracted at an annualized rate of 0.3 percent, the Department of Commerce said on Wednesday, as businesses rushed to bring in goods ahead of anticipated tariff hikes. The decline in GDP marks a sharp reversal […]