US economy shrunk faster than expected, new data shows

First-quarter gross home merchandise (GDP) maturation was revised little Thursday successful airy of reduced user spending, astonishing economists. GDP contracted by 0.5 percent connected an annualized basis, 0.3 percent points little than the past measurement from the Commerce Department. Economists were expecting the fig to enactment the aforesaid astatine a 0.2-percent contraction. GDP shrunk in…