The U.S. economy shrank slightly in the last three months of 2012, due to cuts in government spending and slowing exports.

Wednesday’s report from the Commerce Department says the economy shrank at a one-tenth of one percent annual rate in the fourth quarter.  That is the worst performance since 2009, during the recession.

The decline is a sharp slowdown from the more than three percent annual growth rate in the prior quarter.

This latest report came as U.S. consumers cope with … [Read More]

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Source: VOA News: Economy and Finance