Economy: Worst in 26 years

Economy: Worst in 26 years

NEW YORK (CNNMoney.com) -- The government confirmed Thursday that the U.S. economy suffered its largest drop in 26 years during the fourth quarter.

The nation's gross domestic product, the broadest measure of economic activity, fell at an annual rate of 6.3% during the final three months of 2008. That's slightly worse than the government's previous estimate of a 6.2% drop in the period.

Economists surveyed by Briefing.com had forecast that GDP would fall at a 6.6% rate in the latest reading.

The drop is the biggest one-quarter decline in this key measure since the first three months of 1982.

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http://money.cnn.com/2009/03/26/news/economy/gdp/index.htm