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WHEN IT COMES TO THE ECONOMY, NO NEWS IS GOOD NEWS

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The Tampa Tribune

Published: January 31, 2009

If you felt financially squeezed in the last few months of 2008, you weren't the only one. On Friday, the Commerce Department announced that the economy shrank at a 3.8 percent pace in the final quarter, the worst showing in a quarter-century.

Here's a look at some key numbers:

22.4%

Fourth-quarter decline in spending on big-ticket "durable" goods such as cars, appliances and furniture - the biggest drop since early 1987

7.1%

Fourth-quarter reduction in spending on "nondurables" such as food and clothing - the deepest since the end of 1950

23.6%

Drop in spending by homebuilders in the fourth quarter

27.8%

Decrease in spending by businesses on equipment and software in the fourth quarter - the largest decline since early 1958

1.3%
Pace at which the economy grew for all of 2008

$45.2 billion

Exxon Mobil profit for 2008

The Associated Press
Full coverage in Business section

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