The U.S economy shrank at [an annualized] pace of 6.1% in the first quarter — almost as much as it did in the fourth quarter of 2008, according to a government report Wednesday.
The drop was much worse than expected. ... The first quarter decline was the second biggest drop recorded in 26 years, behind only the fourth quarter reading.
Wednesday, April 29, 2009
U.S. economy still shrinking rapidly
From CNN Money: