U.S. economy shrinks 0.1 percent, 1st time in 3½ years

By Christopher S. Rugaber, Associated Press

Wednesday, Jan. 30, 2013 | 8:22 a.m.

WASHINGTON — The U.S. economy unexpectedly shrank from October through December for the first time since 2009, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles. The drop occurred despite stronger consumer spending and business investment. The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That was a sharp slowdown from the 3.1 percent growth rate in the July-September quarter. Economists said the drop in gross domestic product wasn't as bleak as it looked. The weakness was mainly the ...

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By boftx

Jan. 30, 2013

8:44 a.m.

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In other words, we are re-building the house of cards.
By Future

Jan. 30, 2013

8:56 a.m.

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Not what Obama-Biden claimed when they ran their lying campaign.

Cannot wait to hear the next stimulus plan during Obama's state of the Union

More lies
By chuck333

Jan. 31, 2013

6:13 a.m.

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The economy has been horrible for at least 6 years. All this gerrymandering about its up and down and un-employment etc. is garbage. One day the people will realize we're in deep stuff but it will be very late in the game I fear.