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US recession deepens

Staff Reporter 1 minute read

The United States economy has taken a dramatic turn for the worse, with newly released GDP figures revealing a much worse slowdown than expected in the December quarter.

The economy shrank 6.2 per cent in the December quarter, US Commerce Department figures showed on Friday, considerably worse than the 5.4 per cent forecast by analysts.

The fourth quarter contraction was also the largest endured by the US economy since 1982.

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US recession deepens
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