U.S. economy drops 2.9% in Q1

Source: Bloomberg
© Scanpix/Reuters
Economic decline in the United States in the first three months of this year was revised strongly to the downside, as the country's GDP slipped 2.9% on the annual basis. Previous expectations showed a 1% decline. Therefore, it was the most radical data revision since 1976. Analysts explain the decrease by fall in healthcare spending, while orders for durable goods and equipment are rising.
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