Profile picture for Bette Defarm

US economy slows to crawl

US economic growth slowed dramatically to a 0.6 percent annual pace in the fourth quarter of 2007 amid a worsening housing slump and a related credit squeeze, the government said Wednesday. Most

economists had only expected gross domestic product (GDP) growth to slow to around 1.2 percent during the last three months of 2007. Growth moderated abruptly from a 4.9 percent annualized pace in the third quarter, decelerating to its weakest rate since the end of 2002.
The much weaker-than-expected reading for fourth quarter growth comes amid growing fears that the world's largest economy could be slipping into a recession.

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January 30 2008 - US
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We really need to realize that they do not mean recession. They mean depression. There's no way Japan has had a 10 year recession. It goes against all definitions of depression! lol

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January 30 2008
Profile picture for Bette Defarm
Debts,

Just curious, did you think it would happen this quickly? I keep feeling like this is going at break neck speed, is it me?
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January 30 2008
 
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