BREAKING: US economy shrank 1.4% at beginning of 2022, marking worst quarter in 2 years
U.S. economy
cooled markedly in the first three months of the year, as snarled supply chains, record-high inflation and labor shortages weighed on growth and slowed the pandemic recovery. Gross domestic product, the broadest measure of goods and services produced across the economy, shrank by 1.4% on an annualized basis in the three-month period from January through March, the Commerce Department said in its first reading of the data on Thursday. This is a developing story. Please check back for updates.
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