The weak recovery has been even more anemic than we thought. The news today should be that the nation's growth domestic product fell to 1.3%, which would have been the lowest since the recession ended. Instead, however, revisions to prior quarters' GDP darken the bigger picture. The first quarter, in particular, was just a disaster. Its growth rate was revised from a modest 1.9% to just 0.4%... The recession looks much deeper, with a 8.9% rate of contraction for the U.S. economy in the fourth quarter of 2008, instead of the 6.8% decline previously thought. The quarter that followed also looks worse than first estimated with a 6.7% contraction, instead of 4.9%.
Business
Source: THE ATLANTC
