Wednesday, January 30, 2008

Economy nearly stalled in 4th quarter (AP)



A new house under construction is seen at the Crosswinds Community in Detroit, Monday, Jan. 28, 2008. The Commerce Department reported Monday that sales of new homes dropped by 26.4 percent last year to 774,000. That marked the worst sales year on record, surpassing the old mark of a 23.1 percent plunge in 1980. (AP Photo/Carlos Osorio)AP - The economy nearly stalled in the fourth quarter with a growth rate of just 0.6 percent, capping its worst year since 2002.




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