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Overnight Video: Pale Blue Dot

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researchok4/28/2011 7:27:48 am PDT

Economic growth slows to 1.8% in first months of 2011

Economic growth slowed at the start of the year, weighed down by higher oil prices and lower government spending, according to new data that lays bare the challenging climb the United States faces in trying to emerge from its long period of weakness.

Gross domestic product, the broadest measure of economic activity, rose at a 1.8 percent annual rate in the January through March period, down sharply from the 3.1 percent pace of growth in the final quarter of last year. Economists had forecast 2 percent growth.

Argh. This recovery needs crampons.