30 January, 2013

CNN Breaking News

The U.S. economy contracted at a 0.1% annual rate in the fourth quarter of 2012, the first decline in gross domestic product since the second quarter of 2009.

The drop was a big surprise, as analysts were expecting the economy to grow 1% last quarter, according to a consensus estimate from Briefing.com.

The government says the data in the first reading are, as always, incomplete, with a revision scheduled for release on February 28. Get complete coverage of breaking news on CNN.com, CNN TV and CNN Mobile.

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