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US economy dips at slightly faster 6.3 pct pace

US economy dips at slightly faster 6.3 pct pace

The economy shrank at a 6.3 percent pace at the end of 2008, the worst showing in a quarter-century, as recession-battered Americans reined in spending. It probably isn't doing much better now.
The Commerce Department says the economy sank a bit faster than the 6.2 percent annualized drop for the October-December quarter estimated a month ago.
Economists were bracing for an even sharper 6.5 percent annualized decline in the government's third and final estimate of gross domestic product.


Updated : 2021-10-16 10:33 GMT+08:00