US out put dipped 5% in final quarter of '81
Washington — The US economy slumped even deeper into recession in the final quarter of 1981, contracting at a sharp rate of 5.2 percent, the government said Wednesday.
The gross national product (GNP) -- a measure of the total output of America's goods and services -- took the dip after rising 1.4 percent in the third quarter.
The October-December decline was in line with administration and private predictions of a sharp drop. The current recession began in Julyand is expected to continue into the spring.