Economy in Worst Fall Since '82

Wall Street Journal by Conor Dougherty, Kelly Evans | Feb. 28, 2009 (News Analysis)
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% ... Full Story »

Posted by Fabrice Florin

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Mike LaBonte
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 by Mike LaBonte - Feb. 28, 2009

The BEA has lots of numbers, and this story neglects to mention that it gives the real GDP numbers. If another story reports current dollar numbers they will seem to contradict. Also it might have been good to mention that the numbers still are not final. The Kelly Evans video clip tells pretty much the same story in less detail, a useful second way to get some of the information. The interactive chart tool is very nice; it helps to see the big picture. The viewpoint set is pretty good.

I added links to the BEA documents from which the story is no doubt sourced.

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