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GDP Contraction Exceeds Expectations 

Apr 29, 2009By

US real gross domestic product (GDP) slid at an annual rate of 6.1% in Q109 as unemployment rose, slashing the output of goods and services. Downsizing and job loss either contributing to or resulting from the GDP contraction may also heap pressure on now-unemployed homeowners. The quarter’s contraction comes after GDP shrank 6.3% in Q408, the US Department of Commerce said Wednesday in its advance estimates.

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