US economy suffers sharp fall
28-02-2009
The US economy shrank 6.2 percent in the fourth quarter of 2008, its worst showing in 25-years. Plunging exports and the biggest fall in consumer spending in 28 years dragged the figure down from the 3.8 percent estimate the government gave earlier. The decline was much worse than analysts had expected. In 2008 as a whole, the economy grew by 1.1 percent, the slowest pace since 2001.
