US economy shrinking in line with expectations - first quarter

Released from the US economy at 12:30 GMT, the final reading of GDP contraction in the first quarter registered a rate of 0.2 percent, in line with expectations, which pointed to a contraction rate of 0.2 percent, recorded the previous reading shrinking at a rate of 0.7 percent, is worth mentioning that the US economy has grown at a rate of 2.2 percent during the last quarter of last year.