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U.S. Economy in 2nd Straight Quarter of Steep Decline

By Implode-Explode Heavy Industries

" The economy contracted sharply in the first quarter of the year as businesses scaled back on investments and cut their stockpiles of unsold goods, the government reported on Wednesday. But the numbers suggested that the worst of the recession may be fading as the government?s stimulus filters into the economy."

Full post as published by Mortgage Lender Implode-o-Meter on April 29, 2009 (boomark / email).