Worse Than Expected: US Economy Shrank 6.3%, Profits Decline 16.5%

by Benjamin Domenech on 9:37 am March 26, 2009

March 26 (Bloomberg) — The U.S. economy shrank in the fourth quarter more than previously estimated, leading to the biggest plunge in corporate earnings in a half century and underscoring why companies are slashing payrolls this year.

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