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Economy was hit harder by severe winter than initially feared
Economy was hit harder by severe winter than initially feared

The economy stumbled badly during the severe winter, much more than first estimated, according to a government report, and stalled a recovery that appeared poised to take off this year. Economists, however, see the quarterly drop more as a delay in the nation's long revival from the Great Recession. Other recent data indicate economic growth has picked up significantly this spring, putting the recovery back on a slowly improving track. Total economic output shrank at an annual rate of 1% from January through March, the first quarterly contraction in three years and just the second since the recession ended nearly five years ago, the Commerce Department said Thursday. The...

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