From Reuters, 1/30/08:
http://www.reuters.com/article/companyNewsAndPR/idUSN2961379420080130
By Glenn Somerville
WASHINGTON (Reuters) -
The U.S. economy slowed abruptly in the fourth quarter as consumers
curbed spending and homebuilding plunged, according to a government
report on Wednesday that kept fears of recession alive.
The Commerce Department said gross domestic product, a measure of
total goods and services output within U.S. borders, grew at an annual
rate of 0.6 percent in the fourth quarter. The economy expanded 2.2
percent in 2007, the slowest in five years.
"No question, the GDP number tells us the economy is on the brink of
recession, if not in one already," said Peter Boockvar, an equity
strategist with Miller Tabak & Co. in New York.
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Harry
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