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America had an extremely disappointing first quarter, with GDP falling at an annual rate of 2.1%.
That provoked a sickening slump in Uruguay's own economy, with GDP falling by 11% in 2002.
The picture was little better in other countries, with America's GDP falling by an eye-watering 3.8%.
The survey points to GDP falling by 0.2%, similar to the decline seen in the first quarter.
Mr Obama's first budget foresaw the budget deficit, then roughly 10% of GDP, falling to 3.5% this year.
Cyclically adjusted, our net borrowing is this year just 2.2%% of GDP, falling to 1.6%, 1.6%, 1.6% and then falling to 1.5 and 1.4%.
Similar(25)
UK GDP falls by 4.7%.
GDP fell by 0.1% in the last quarter.
Japan's GDP fell at perhaps twice that rate.
For the whole year, GDP fell by 2.4%.
Japan's GDP fell in the second quarter.
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