Ravi
Diamond Member
At the depth of the recession in the fourth quarter of 2008, output plummeted at an annual rate of 8.9 percent -- the steepest quarterly decline since 1958, and 2.1 percentage points more than previously reported.
The recession was already the deepest since the Great Depression and, while it still pales in comparison, the data help explain why it is taking so long to shake off its legacy.
Data shows deeper recession, sharper slowdown | Reuters
The recession was already the deepest since the Great Depression and, while it still pales in comparison, the data help explain why it is taking so long to shake off its legacy.
Data shows deeper recession, sharper slowdown | Reuters