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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Patricia L'Herrou
3.9
 by Patricia L'Herrou - Feb. 28, 2009

a quite sobering picture of our economy laid out upon the facts/figures for vital factors, of the last quarter, corrected and, most helpfully, shown in easy to read graphs; altho here there's not much speculation here, a potential domino effect implied from these figures would indicate a further spiraling down to go--to include more jobs and home mortgages. and not much discussion of the recovery act as a safety net. for those not usually reading these, a graph comparison between these and a couple years earlier would be appreciated.

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Patricia's Rating

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