U.S. Economy Shrinks 0.1%, 1st Time in 3 1/2 Years

(WASHINGTON) -- The U.S. economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles. The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter. (MORE: Are Today's Business Leaders Too Afraid of Risk?) Th...