The economy continued its downward slide during the first three months of the year, though at a slightly slower pace than during the last quarter of 2008.

The gross domestic product fell at an annual rate of 5.7%, according to a preliminary estimate released by the Commerce Department today. Last month, the department issued an "advanced estimate" of a 6.1% drop during the first quarter of 2009.

The GDP fell 6.3% during the fourth quarter of last year.

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