(WASHINGTON EXAMINER) -- Efforts to curb the spread of the coronavirus have also slowed the economy with gross domestic product contracting 4.8% at a seasonally annualized rate in the first quarter, the Commerce Department reported Wednesday in a preliminary estimate.
Economists had projected that GDP would be negative 3.5%.
In the fourth quarter of 2019, GDP increased 2.1% at a seasonally annualized rate. For the entire year of 2019, GDP was 2.3%.
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