Economy Stalls:Worst Growth Since 2002

AP JEANNINE AVERSA May 31, 2007 08:42 AM
The economy nearly stalled in the first quarter with growth slowing to a pace of just 0.6 percent. That was the worst three-month showing in over four years.
The new reading on the gross domestic product, released by theCommerce Department Thursday, showed that economic growth in the January-to-April quarter was much weaker. Government statisticians slashed by more than half their first estimate of a 1.3 percent growth rate for the quarter.
The main culprits for the downgrade: the bloated trade deficit...
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