The US economy shrank 1.6% in the first quarter, adding to recession fears
CNN
The US economy shrank at a slightly faster rate than previously estimated during the first quarter.
With one quarter of negative economic growth in the books, the data adds to fears that a recession may be looming.
Real gross domestic product declined at an annualized rate of 1.6% from January to March, according to the BEA's third and final revisions for the quarter.
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