• SHARE

The economy shrank less in the first quarter than initially estimated, but the contraction was still the severest since 1955, revised data released by the government Thursday showed.

Gross domestic product fell at a 14.2 percent annualized rate in the first three months of the year, slightly better than the Cabinet Office’s preliminary reading of a 15.2 percent contraction.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW