US economy shrinks for first time since 2009



The US economy unexpectedly contracted in the fourth quarter of 2012, suffering its first decline since the 2007 to 2009 recession as businesses scaled back on restocking and government spending plunged. 

Gross domestic product fell at a 0.1 percent annual rate after growing at a 3.1 percent in the third quarter of 2012, the Commerce Department said on Wednesday. 




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