Home Economy US economy shrinks 6.1 percent in first quarter

US economy shrinks 6.1 percent in first quarter

By DPA,

Washington : The US economy contracted at an annual rate of 6.1 percent in the first three months of 2009, the US Commerce Department said in its initial estimate Wednesday.

That follows a 6.3-percent contraction in the final quarter of 2008 as the US battles through its worst recession in decades.