U.S. Economy Gets Bitten

The U.S. economy contracted in the first three months of the year partly due to a resurgence in coronavirus cases disrupting businesses.

Figures from the Commerce Department showed that gross domestic product fell at an annualized rate of 1.4%.

Slower economic growth was expected in the first quarter of the year, but the figure was worse than forecast.

It is the first contraction in the economy since the pandemic-induced recession in 2020.

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Peter Peterkin, Readers Bureau, Contributor

Edited by Jesus Chan

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