US economy shrank 6.3 percent in 2008 final quarter

March 26th, 2009 - 8:54 pm ICT by IANS  

Washington, March 26 (DPA) The US economy shrank by 6.3 percent in the final quarter of 2008, according to an adjusted figure released Thursday by the US Commerce Department.
The figure is only slightly larger than the annualized 6.2 percent initially estimated last month, but remains the worst fourth-quarter showing by the country since the recession of 1982.

The figure compares to an annualized 0.5 percent negative US growth in the third quarter of 2008.

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