WASHINGTON (AP) — The U.S. economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles. The decline occurred despite faster growth in consumer spending and business investment.
US economy shrank for first time in 3 ½ years
By Christopher S. Rugaber| AP Economics Writer January 30, 2013
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