Apr 29th, 2009 - Washington Post
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The U.S. economy contracted during the first three months of the year at one of the fastest rates in 27 years and surprised analysts by nearly matching the historic decline than had been registered in the final quarter of 2008, when it was battered by the financial meltdown.
Gross domestic product, a measure of the goods and services produced across the nation, shrank at an annualized rate of 6.1 percent, according to a preliminary estimate released this morning by the Commerce Department, after contracting by 6.3 percent between September and January.
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