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Article: Economy grows at just 0.7 percent rate in fourth quarter
- Article from:
- AP Worldstream
- Article date:
- January 30, 2003
- Author:
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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Dateline: WASHINGTON
The U.S. economy slowed dramatically in the final quarter of last
year, growing at an annual rate of just 0.7 percent as consumers turned
cautious in the face of war worries, a rollercoaster stock market
and a stagnant job climate.
The meager rise in gross domestic product in the fourth quarter of
2002 came after the economy grew at a respectable 4 percent rate in
the third quarter, the Commerce Department reported Thursday.
GDP measures the total value of goods and services ...