Bloomgberg: "U.S. gross domestic product contracted at a 1 percent annual rate in the second quarter, following a revised 5.4 percent drop in the first three months of 2009, according to the Commerce Department. "
Associated Press: "The economy sank at a pace of just 1 percent in the second quarter of the year, a new government report shows. It was a better-than-expected showing that provided the strongest signal yet that the longest recession since World War II is finally winding down.
The dip in gross domestic product for the April-to-June period, reported by the Commerce Department on Friday, comes after the economy was in a free fall, tumbling at an annual rate of 6.4 percent in the first three months of this year. That was the sharpest downhill slide in nearly three decades."
