GDP Stayed Sluggish at End of 2007 |
| Wall Street Journal - Mar 27, 2008 |
The U.S. economy downshifted abruptly in the fourth quarter, growing at a 0.6% annual rate, the slowest pace since late 2002, the Commerce Department estimated Thursday.
Meanwhile, the number of U.S. workers filing new claims for unemployment insurance fell last week but remained at elevated levels consistent with sluggish labor markets. However, jobless claims may have been reduced slightly by an Easter holiday in Puerto Rico that closed state offices and was not captured by the Labor Department's seasonal adjustments.
The 0.6% estimate for gross domestic product, unrevised from the previous two estimates, was exactly as forecast by economists. By contrast, GDP grew at a 4.9% annual rate in the third quarter.
Read Full Article from Wall Street Journal
- Posted: 2008-03-27 08:30:32
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