GDP Crawl Confirms US Economy Slump

31 March 2008

WASHINGTON DC: Fourth quarter US GDP figures, released by the Commerce Department, have confirmed that the nation's economic growth almost ground to a halt during the final months of 2007.

GDP annual pace inched-up 0.6% from October 1 through December 31, compared with growth of 4.9% during Q3.

Says Nigel Gault, chief US economist at Global Insight: "The economy just kept its head above water. We think that GDP will decline, albeit slightly, during the first half of 2008. The first-half outlook is bleak."

Data sourced from New York Times; additional content by WARC staff