GDP off in fourth quarter, but not as much as expected
The U.S. Department of Commerce said gross domestic product decreased at an annual rate of 3.8 percent in the fourth quarter of 2008. It was the biggest single-quarter decline since the first quarter of 1982. With GDP falling in the 2008 third quarter by 0.5 percent, the news marks the first decline over two consecutive quarters since the fourth quarter 1990 and the first quarter of 1991. The decline, however, was less than many economists expected. One Reuters economic forecast . . .
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