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Q4 GDP down 3.8 percent, biggest drop since 1982
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Reuters
January 30, 2009
The economy shrank at its fastest pace in nearly 27 years in the fourth quarter, government data showed, sinking deeper into recession as consumers and business cut spending.
- A d v e r t i s e m e n t
The Commerce Department on Friday said gross domestic product, which measures total goods and services output within U.S. borders, plummeted at a 3.8 percent annual rate, the lowest pace since the first quarter of 1982, when output contracted 6.4 percent. GDP fell 0.5 percent in the third quarter. These were the first consecutive declines in GDP since the fourth quarter of 1990 and the first three months of 1991.
Analysts polled by Reuters had forecast GDP contracting 5.4 percent in the fourth quarter. The U.S. economy slipped into recession in December 2007, driven by the collapse of the housing market and resulting global credit crisis.
For 2008, GDP rose 1.3 percent, the slowest pace of growth since 2001, when the economy expanded 0.8 percent.
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January 30th, 2009 at 10:36 am
The Kitáb-i-aqdas – the little book of the New World Order
http://mankindlastchance.wordp.....the-beast/
January 30th, 2009 at 11:44 am
Quit electing Republicans and Democrats people. Has anything improved since they hijacked our coiuntry? They are crashing our economy to bring us into the global economic system.
January 30th, 2009 at 12:52 pm
TEST! Are “key words” the cause of posts being rejected. ALL of my tax information post disappear.
IRS Tax return
January 30th, 2009 at 4:13 pm
Question: What does GDP stand for?
Ans: Gullible dumb Public
Pretty well sums it up.
BDS