Economy Nearly Stalled in 4th Quarter; Suffers Worst Year Since 2002

Posted by Kendall Harmon

The economy nearly stalled in the fourth quarter with a growth rate of just 0.6 percent, capping its worst year since 2002.

The Commerce Department's report on the gross domestic product, released Wednesday, showed an economy that had deteriorated considerably during the October-to-December quarter as worsening problems in the housing market and harder-to-get credit made individuals and businesses more cautious in their spending. Fears of a recession have grown.

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Filed under: * Economics, PoliticsEconomy

2 Comments
Posted January 30, 2008 at 9:07 am [Printer Friendly] [Print w/ comments]



1. In Newark wrote:

Alternate headline “Despite mortgage crisis, economy still growing.”

January 30, 11:13 am | [comment link]
2. Bob Lee wrote:

Alternate headline:
“Now that we can’t scare you with Iraq, or North Korea,
or an oil crisis, or ‘Global Warming’, it’s time you knew that
the Economy is ‘Plunging’ and you are going to Perish”.

...and how many times in the Bible does it say “Do not Fear”?

bl

January 30, 11:35 am | [comment link]
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