NY Daily News- Top Stories: Surprise! U.S. economy contracts in fourth quarter, though mainly due to big drop in defense spending

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Surprise! U.S. economy contracts in fourth quarter, though mainly due to big drop in defense spending Jan 30th 2013, 18:09 The slow-moving economy hit a wall in the final months of 2012, backtracking for the first time since the recession ended. Gross domestic product shrank at a 0.1% annual pace, the Commerce Department reported. Media files: gdp31b-1-web.jpg (image/jpeg)

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