US economy shirks 2.9%, more than expected - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

US economy shirks 2.9%, more than expected

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The U.S. Economy shrunk more than expected in the first quarter. (Source: CNN) The U.S. Economy shrunk more than expected in the first quarter. (Source: CNN)

(CNN) - New estimates show the U.S. economy declined at a 2.9 percent annual rate in the first quarter, steeper than previously reported.

The numbers from the Bureau of Economic Analysis show the weakest quarter for the U.S. economy since 2009, amid the Great Recession.

But economists aren't too worried, they say the nasty winter weather is responsible for much of the decline.

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