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Economic Report: Economy shrinks 1.4% in first quarter, GDP shows, but mainly due to record U.S. trade deficit

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The U.S. economy is forecast to grow 1% in the first quarter based on gross domestic product, analysts polled by The Wall Street Journal estimate. Some even predict the first outright decline since early in the pandemic. The GDP report will be released at 8:30 a.m. Eastern by the Bureau of Economic Analysis.

See: MarketWatch GDP preview

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and S&P 500
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were set to open higher in Thursday trades.

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