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The US Federal Reserve
US GDP unexpectedly shrank by 1.4% on an annualised basis in the first quarter of 2022, below expectations of 1% growth and down from 6.9% in the fourth quarter of 2021.
The US Bureau of Economic Analysis reported today that GDP had shrank for the first time since mid-2020 amid ongoing supply chain disruptions and rising inflation. The report stated that the decline...
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