U.S. economy contracts mildly in second quarter; no sign of recession in underlying data - Reuters
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The U.S. economy contracted at a more moderate pace than initially thought in the second quarter as consumer spending blunted some of the drag from a sharp slowdown in inventory accumulation, dispelling fears that a recession was underway.
WASHINGTON, Aug 25 (Reuters) - The U.S. economy contracted at a more moderate pace than initially thought in the second quarter as consumer spending blunted some of the drag from a sharp slowdown in … [+5961 chars]
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