- Feb 5, 2006
- 35,787
- 6,195
- 126
http://www.bloomberg.com/apps/...01087&sid=aNivTjr852TI
Which explains why unemployment rate is higher than predicted and makes the people parading the "with and without stimulus" charts look like complete fools, not that they would ever admit it.
July 31 (Bloomberg) -- The first 12 months of the U.S. recession saw the economy shrink more than twice as much as previously estimated, reflecting even bigger declines in consumer spending and housing, revised figures showed.
The world?s largest economy contracted 1.9 percent from the fourth quarter of 2007 to the last three months of 2008, compared with the 0.8 percent drop previously on the books, the Commerce Department said today in Washington.
Which explains why unemployment rate is higher than predicted and makes the people parading the "with and without stimulus" charts look like complete fools, not that they would ever admit it.