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Urgent: U.S. economy contracts 1.0 pct in Q1: revised data

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(GlobalPost/GlobalPost)

WASHINGTON, May 29 (Xinhua)-- The U.S. Commerce Department on Thursday revised down its estimate for the real gross domestic product in the first quarter to a contraction of 1.0 percent.

It preliminarily estimated the economy to grow 0.1 percent.

http://www.globalpost.com/dispatch/news/xinhua-news-agency/140529/urgent-us-economy-contracts-10-pct-q1-revised-data