U.S. Economy Shrinks For First Time In Over Three Years

NPR | Jan. 30, 2013 3:18 p.m.

Contributed By:

Melissa Block, Jim Zarroli

play
pause
stop
mute
unmute
max volume

repeat
repeat off

Update Required To play the media you will need to either update your browser to a recent version or update your Flash plugin.

The U.S. economy actually shrank a bit in the fourth quarter. It was a tiny decline at one tenth of a percent, but it goes down as the first negative quarter in three and a half years. A sharp decline in government spending and a fall in business inventories were big factors.