Coronavirus: US economy shrinks at fastest rate since 2008 – BBC News

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The US economy suffered its most severe contraction in more than a decade in the first quarter of the year, as the country introduced lockdowns to slow the spread of coronavirus.

The world’s largest economy sank at an annual rate of 4.8%, according to official figures released on Wednesday.

It marked the first contraction since 2014, ending a record expansion.

But the figures just hint at the full crisis, since many of the restrictions were not put in place until March.

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