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US economy shrank with 0.3% annualized rate in July-Sep

Figures from the commerce Department show that between July and September, the US economy has shrunk at an annualized rate of 0.3%. Though they showed the sharpest contraction of the economy since 2001, the gross domestic product (GDP) figures were better than expected. On the other hand, consumer spending that constitutes two-thirds of the US Read more