Sunday, February 1, 2009
4th Quarter GDP 2008: Negative 3.8%
Of course, that's not the end of the story. This is the first of three estimates for economic growth during this period - the "advance" estimate - to be followed by the "preliminary" estimate next month and the "final" estimate at the end of March...
The 3.8 percent rate of decline was the weakest showing for the U.S. economy since the first quarter of 1982 when real economic growth contracted at a 6.4 percent annualized rate, however, some analysts fear that the data will be revised downward sharply in the months ahead and that the current quarter may be even worse.