Economy in Worst Fall Since '82
Output Sank 6.2% Last Quarter; Plunging Trade, Investment Signal Trouble Ahead
The U.S. economy deteriorated far more than previously thought in the fourth quarter, according to new revisions of government data, casting fresh doubt about the chances of a recovery this year.
With falloffs in consumer spending and exports, gross domestic product declined at a 6.2% annual rate in the fourth quarter of 2008, according to a Commerce Department report Friday. The agency's first estimate for GDP, reported in January, was for a 3.8% ...
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To see the world from a different perspective, I recently switched my daily newspaper from the New York Times to the Wall Street Journal and am glad I did. WSJ offers informative, concise reporting, as well as exposure to thoughtful viewpoints that are very different from my own. One way to keep an open mind is to switch your sources regularly, to reduce one's dependence on a primary point-of-view.