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WASHINGTON - The economy nearly sputtered out at the end of the year and probably is faring even worse now amid continuing housing, credit and financial woes.
The Commerce Department reported Thursday that the gross domestic product, or GDP, increased at a feeble 0.6 percent annual rate from October through December. The reading, unchanged from a previous estimate a month ago, provided stark evidence of just how much the economy has weakened. In the previous three months, the economy had a sizzling 4.9 percent growth rate.
The GDP measures the value of all goods and services produced in the United States and is the best barometer of economic health.
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