U.S. Economy Unexpectedly Shrinks in Fourth Quarter
Jan. 30 (Bloomberg) -- The economy in the U.S. unexpectedly shrank in the fourth quarter, restrained by the biggest plunge in defense spending in four decades and dwindling inventories as household purchases picked up.
Gross domestic product, the volume of all goods and services produced, dropped at a 0.1 percent annual rate, Commerce Department figures showed today in Washington. Betty Liu and Michael McKee report on Bloomberg Television's "In the Loop." (Source: Bloomberg)