U.S. Economic Shrinkage Worst in 25 Years
Either the U.S. economy was in the pool during the last three months of 2008 or the economic crisis is worse than expected. The nation's GDP shrank 6.25 percent in the fourth quarter of last year, almost doubling the preceding quarter's contraction rate of 3.8 percent.
Either the U.S. economy was in the pool during the last three months of 2008 or the economic crisis is worse than expected. The nation’s GDP shrank 6.25 percent in the fourth quarter of last year, almost doubling the preceding quarter’s contraction rate of 3.8 percent.
Your support matters…The Guardian:
The US economy contracted at the worst pace in 25 years in the last three months of 2008, as nervous businesses and consumers spent less money and exports declined.
Markets dropped on the economic news. On the New York stock exchange, the Dow Jones industrial average of blue chip stocks plunged more than 100 points in the first hour of trading, to 7,049, the lowest level since October 1997.
The US gross domestic product contracted at a frightening 6.25%, a rate much higher than the 3.8% decline in the third quarter of 2008, according to preliminary statistics released today [Friday] by the US department of commerce.
Independent journalism is under threat and overshadowed by heavily funded mainstream media.
You can help level the playing field. Become a member.
Your tax-deductible contribution keeps us digging beneath the headlines to give you thought-provoking, investigative reporting and analysis that unearths what's really happening- without compromise.
Give today to support our courageous, independent journalists.
TD Original
Reflecting on the systems that maintain racism and separatism in America.
Wounds of War
According to Pentagon policy on “responding to civilian harm”, Defense Secretary Lloyd Austin owes Somalian drone victims an overdue apology.
Editorial Cartoons
Politics
Obama's only takeaway from the Syria episode was to never again seek Congressional approval for military action.
Politics
Cautionary politics lost them the majority a decade ago. It’s taken that long to reboot.
With his nonstop barrage of lies, the president has degraded our electoral system to the point that any result will feel illegitimate.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.