US economy goes into reverse as fears grow over recovery
US economy shrinks in first quarter for the first time in three years, raising doubts over Federal Reserve's next move
Revision to US GDP has spooked markets on Wall Street sending the dollar lower Photo: AP
29 May 2014
The American economy went into reverse in the first three months of the year, new figures reveal, stoking fears that the US recovery is still much more fragile than hoped.
Economy expands 4.7 percent in FY14, looks to Modi for rebound
A worker loads bricks onto a vehicle near a construction site of a residential complex in New Delhi May 30, 2014.
BY RAJESH KUMAR SINGH-Fri May 30, 2014
(Reuters) - India's economic growth picked up marginally from a decade low in the fiscal year ended March, but pro-business Narendra Modi's thumping victory in the recent general election has stoked optimism of an investment-led turnaround in the coming quarters.
