Q4 GDP Revised Downward to -6.2%

This shouldn’t have been unexpected, but the just-released revision to U.S. Q4 GDP is hefty:

GDP Shrunk 6.2% in 4th Quarter

The U.S. recession deepened a lot more in late 2008 than first reported, as fourth-quarter GDP was revised down to a 6.2% contraction from 3.8%.

That now makes Q4 the worst in the U.S. since 1982.

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