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U.S. economy shrinks at fastest rate since recession

The US economy has shrunken at its fastest rate since the depths of the recession five years ago as it emerged that the harsh winter took a far bigger toll on activity than previously estimated. Official data released in Washington showed that output as measured by gross domestic product fell…

Economists predict 8 percent growth in key Chinese economic report

AFP - China’s economic growth likely picked up slightly in the first quarter of this year, according to an AFP poll of analysts, but they say the rebound is fragile and key data unreliable. First-quarter gross domestic product (GDP) for the world’s second-largest economy is due to be announced Monday and…

US confirms economy grew 3.0% in Q4

The US economy grew at an annual rate of 3.0 percent in the fourth quarter of 2011, the Commerce Department said in its final estimate Thursday. The department’s third estimate for gross domestic product growth in the period was unrevised from its prior estimate and capped a year of steadily accelerating growth. GDP grew…

Greece’s economy to exit recession only by 2014

WASHINGTON — Greece’s economy is expected to exit recession only by 2014, the International Monetary Fund said Thursday after announcing a new bailout loan for the heavily indebted country. The IMF projected the Greek economy would shrink about 4.8 percent this year, followed by zero growth in 2013 and a…

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