US economy shrank 0.9% last quarter, its 2nd straight drop - Moneycontrol

Thursday’s first of three government estimates of GDP for the April-June quarter marks a drastic weakening from the 5.7% growth the economy achieved last year.

The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession. The decline that th… [+4163 chars]

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