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U.S. Gross domestic product (GDP) increased 0.1% in the first quarter. This slow growth is a result of a cold winter in the USA. The U.S. economy climbed 2.6% in the previous quarter. Analysts forecasted the increase of 1.1%.
U.S. exports dropped 7.6% in the first quarter, the largest decrease since the end of recession. This figure shows that demand for U.S. goods and services in Europe and Asia is decreasing. Imports declined 1.4%. This figure reflects weaker consumer demand for foreign goods.
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