Wednesday, April 29, 2009

First Pig Flu Death Drowns Out Bad Economic News: 6.1% Drop in GDP During First Quarter 2009

Even though 16, 000 people have already died from the non-celebrity, basic influenza virus this year, the swine flu is all the rage. And now that the CDC has confirmed the first U.S. death from the virus, the news coverage will probably escalate.

But while a majority of the media continues to advance melodrama over important news, a sobering story about the economy has emerged: GDP declined at a seasonally adjusted annual rate of 6.1 % in the first quarter of 2009.

Source: U.S. Economy Shrank at 6.1% Rate in First Quarter

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