Economy Slightly Better In 1st Q Than First Reported

By: Associated Press Email
By: Associated Press Email

The government says the economy performed slightly better in the first three months of 2009 than was first estimated. Friday's updated reading says the economy sank at rate of 5.7 percent, not the 6.1 first reported.

Even in the face of today's report, many analysts believe activity is not shrinking nearly as much now as the recession is starting to flash signs of turning around.

Friday's new reading was a tad worse than the 5.5 percent annualized drop economists were forecasting.

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