US GDP declined 6.2% in the fourth quarter of 2008. This revised figure is not only higher then originally thought, but higher then the predicted revised number. You can read more about the numbers at http://www.marketwatch.com/news/story/gdp-revised-decline-62-fourth/story.aspx?guid={F68D38CA-2BAE-45B0-A247-760432E0BF1A}&dist=msr_11.
On the topic of horrible economic news, this February was by some measures the worst in 75 years. More bad news can be found at http://online.wsj.com/article/SB123573389322793621.html.
Friday, February 27, 2009
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