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Market Update : 
GDP, Jobless Reports; Sprint Falls
Author: 123jump.com Staff
123jump.com
Last Update: 11:00 AM EST February 28 2008


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Fourth quarter GDP growth declined to 0.6% after the economy expanded at a brisk rate of 4.9% in the third quarter. Real GDP rose at 2.2% in 2007 sharply lower than 2.9% in 2006 according to the Commerce Department. Jobless claims rose 19,000 for the week ending on Feb 23. Separately, Sprint reported a large fourth quarter loss and wrote-off the entire purchase of Nextel, acquired only two years ago.

 

 

 
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