Wednesday, April 29, 2009

Ouch! Economy Shrinks by 6.1%

Suddenly, those "green shoots" and "glimmers of hope" don't look so promising. The Commerce Department reports today that the economy shrank by 6.1% in the first quarter. That's a lot worse than most economists expected. Unemployment is expected to top 10% by the end of the year.

1 comment:

Scottye said...

To quote Doctor Smith from Lost in Space "We're doomed!!!!"