With plenty of caveats, yes, but it's still the first negative print since the end of the recession 3.5 years ago. At -0.1%, the fourth quarter came in well below expectations of +1.1% and marked a steep plummet from the prior quarter's +3.1% (the worst quarterly deceleration since the trough of the recession).
Markets seem to be taking it in stride, perhaps because the news comes in time for the Fed to sweeten their language by the end of today's policy meeting.
Handcrafted by Flip on January 30, 2013 |
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