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Economics

Good News on Health-Care Spending Is Making U.S. GDP Look Bad

The U.S. economy shrank 2.9 percent during the first quarter, the biggest decline since early 2009′s free-fall in the midst of the Great Recession.

The decline in GDP is nearly three times worse than the U.S. Commerce Department predicted a month ago and nowhere near the first forecast made in April showing that GDP increased 0.1 percent. But this is the third and final forecast of first-quarter GDP—it’s now officially in the books.