The U.S. economy sank at a pace of just 1 percent in the second quarter of the year, the Commerce Department reported Friday, in a better-than-expected showing that the recession could be winding down.

May 29

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The U.S. economy shrank slightly less than initially estimated at a 5.7 percent pace at the start of 2009 as the recession lumbered into the new year, according to a government report released Friday that hinted the recession might be…