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June 26, 2014

U.S. Economy Suffers Largest Contraction in Years 
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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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