U.S. Economy Declines in Third Quarter
226 views · Published 31 October 2008 · 1:31 · Indexed 20 September 2026
Channel: Voice of America · 2008 · News & Politics
The U.S. economy suffered its biggest decline in seven years, according to a report out Thursday from the Commerce Department. The nation's Gross Domestic Product, or GDP, fell by three-tenths of one percent between July and September. The GDP is the value of all goods and services produced in the U.S. In addition, the government reported that consumer spending fell for the first time in about two decades. Both are indications that the nation may sliding into a recession. VOA's Robert Raffaele has more.
