WASHINGTON — The fourth-quarter 2008 real gross domestic product revision was to a 6.3% contraction, little changed from negative 6.2% in the prior estimate, and there were offsetting revisions in most components that provide little information about future growth. This was still the worst showing since the first quarter of 1982, when the economy declined 6.4% during a severe recession.
Price measures remained subdued, as expected in a declining economy. GDP prices rose 0.5% and the core PCE price measure was up 0.9%.
— Market News International