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U.S. Economy Suffers Largest Contraction in Years

HeadlineJun 26, 2014

New figures show the U.S. economy has suffered its worst contraction since the depths of the recession five years ago. The Commerce Department says gross domestic product fell 2.9 percent in the first quarter between January and March. Major factors included an unusually cold winter, the expiration of long-term unemployment benefits, and cuts to food stamps.

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