Economy 'nearly sputtered out'

Yahoo Biz

The economy nearly sputtered out at the end of the year and is probably faring even worse now amid continuing housing, credit and financial crises.rnrnThe Commerce Department reported Thursday that gross domestic product increased at a feeble 0.6 percent annual rate in the October-to-December quarter. The reading -- unchanged from a previous estimate a month ago -- provided stark evidence of just how much the economy has weakened. In the prior quarter, the economy clocked in at a sizzling 4.9 percent growth rate.