Economy Shrinks as U.S. Defense Spending Slumps

Economy Shrinks as U.S. Defense Spending Slumps Play

Jan. 30 (Bloomberg) -- The economy in the U.S. unexpectedly shrank in the fourth quarter, restrained by the biggest plunge in defense spending in four decades and dwindling inventories as household purchases picked up. Michael McKee reports on Bloomberg Television's "In The Loop." (Source: Bloomberg)

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