Worrisome economic news -- U.S. economy contracts
Posted by scapozzola on 01/30/2013
This morning, the U.S. Commerce Department reported that the nation's economy contracted at an annual rate of 0.1 percent in the fourth quarter. The drop of 0.1 percent in the fourth quarter confounds expectations for growth. Potential factors contributing to the slowdown, according to the Associated Press, include large cuts in defense spending, fewer exports. and sluggish growth in company stockpiles.
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