Summary
WASHINGTON - The economy nearly sputtered out in the final quarter of last year and is probably faring even worse now amid the continuing housing, credit and financial crises.
The Commerce Department reported today that gross domestic product increased at a feeble 0.6 percent annual rate in the October- to-December quarter. The reading - unchanged from a previous estimate a month ago - provided stark evidence of just how much the economy has weakened. In the prior quarter, the economy clocked in at a sizzling 4.9 percent growth rate.See the full content of this document
Extract
Economy Nearly at Standstill
The gross domestic product (GDP) measures t...
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