US Economy Shrinks 0.7% in First Quarter a

A harsh winter, a strong dollar and falling oil prices took their toll on the US economy in the first quarter. The Commerce Department revealed on Friday that US gross domestic product fell at a rate of seven tenths of one percent a year. The GDP is the broadest measure of economic growth. The Commerce Department had previously estimated that output would grow two tenths of one percent through March.

wochit_business