US Economy Shrinks as IMF Warns of Great Depression

US Economy Shrinks as IMF Warns of Great Depression

http://www.truthout.org/122408R

Agence France-Presse: "The US economy shrank in the third quarter, official data confirmed Tuesday, as the IMF's top economist warned of a second Great Depression offering no respite from relentless gloom ahead of Christmas. The abrupt 0.5 percent contraction of gross domestic product (GDP) in the world's largest economy was seen as marking the start of a steep downturn for the United States after GDP growth of 2.8 percent in the second quarter."