GDP decline smaller than expected

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The Gross Domestic Product fell at a seasonably adjusted 1 percent annual rate from April through June, a smaller decline than Wall Street had expected.

The decline was also smaller than its 6.4 percent contraction in the first quarter and its 5.4 percent decline in the fourth quarter, MarketWatch reports.

Wall Street had expected a bigger decline in second-quarter GDP, and economists surveyed by Dow Jones Newswires projected a 1.5 percent decrease.

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