Posted AT 9:17 AM EST on 27/03/08
U.S. economy nearly sputtered out at end of 2007
WASHINGTON — The U.S. economy nearly sputtered out at the end of the year and is probably faring even worse now amid continuing housing, credit and financial crises.
The Commerce Department reported Thursday that gross domestic product increased at a feeble 0.6 per cent annual rate in the October-to-December quarter. The reading unchanged from a previous estimate a month ago provided stark evidence of just how much the economy has weakened.
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