US economy contracts a steep 2.9% | Bangkok Post: news

News > World

US economy contracts a steep 2.9%

- +

The US economy shrank much more than previously estimated in the first quarter, in the sharpest contraction in five years, the Commerce Department said Wednesday. 

An American flag pictured in a ferry terminal in New York City on April 30, 2014

Gross domestic product fell at a 2.9 percent annual pace in the first three months of the year, much worse than the previous estimate of 1.0 percent.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

1 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments