The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.Please bookmark!
The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.
The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.
The surprise contraction could raise fears about the economy's ability to handle tax increases that took effect in January and looming spending cuts.
PUNDIT PRESS HAS MOVED
Today marks a very exciting day as we launch the new and improved Pundit Press. We have joined forces with High Plains Pundit to design a new website to provide our readers with even more news and information.
Here is the link that will direct you to the new Pundit Press website: http://thepunditpress.com/
This new partnership will also include all 3 of Danny R. Butcher's (aka High Plains Pundit) internet radio shows, Nightly Review, The Danny R. Butcher Show, and Sunday Night Sports Talk.
A special thank you to all of the Pundit Press readers out there for your continued support. We are very excited about what the future holds for Pundit Press, and we hope that you continue with us on this journey.