Worst U.S. economic contraction since 1982 in fourth quarter »
Posted By Pdlpublic 9 months, 4 weeks ago in Business & FinanceJust a month ago the U.S. economic contraction measured by gross domestic product for the fourth quarter of 2008 had been estimated at 3.8 percent. Then the Commerce Department revised the GDP contraction to an astonishing 6.2 percent Friday, Feb. 27 on the ground of sharp declines in consumer spending, investment and exports.
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