Friday, January 30, 2009

Shrinkage

-3.8%.

Economy shrinks at 3.8 percent pace in fourth quarter, worst showing in quarter-century

WASHINGTON (AP) -- The economy shrank at a 3.8 percent pace at the end of 2008, the worst showing in a quarter-century, as the deepening recession forced consumers and businesses to throttle back spending.


That's an annualized rate.