Gross Domestic Product fell some .5% in the three months ending September, figures show. That compares to GDP growth of 3% the previous quarter. The US economy is indeed in a very bad recession.
The third quarter drop was the biggest for the economy since a 1.4% decline in the third quarter of 2001, the last full quarter that the U.S. economy was judged to be in a recession, money.com reported.
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