Economy Shrinks in 4Q, Recession Begins

[I AM NOT THAT GUY 5,715]

GDP unexpectedly shrinks, decline seen temporary

WASHINGTON — The economy unexpectedly contracted in the fourth quarter, suffering its first decline since the recession ended more than three years ago as businesses scaled back on restocking and government spending plunged.

Gross domestic product fell at a 0.1 percent annual rate after growing at a 3.1 percent clip in the third quarter, the Commerce Department said on Wednesday.

That was the worst performance since the second quarter of 2009 and showed the economy entering the new year with little momentum. Economists polled by Reuters had expected GDP to rise at a 1.1 percent rate and none had predicted a contraction.

But economists said there was no reason for panic.

http://xfinity.comcast.net/articles/news-general/20130115/US-USA-ECONOMY/

[Gary and Alla 3,694]

This ine is Nixon's fault. No question.

[The Nature Boy 4,224]

Darn that Bush...

Who will he blame now.. I remember Nov when the economy was strong.. What happened LOL

This ine is Nixon's fault. No question.

:rofl::rofl: