Final Countdown

And the result ;

The U.S. economy, weakened by the worst consumer spending in 28 years, contracted last summer, beginning a slump that some fear could turn into a deep recession.

The gross domestic product, the broadest measure of the nation's economy, fell to an annual rate of 0.3% in the period. That compared with a 2.8% growth rate in the second quarter, when economic stimulus checks and strong exports spurred by a weak dollar resulted in solid growth that vanished in the latest reading.

The slump in growth last quarter was the biggest since the third quarter of 2001. The economy contracted at a 0.2 percent pace in the last three months of 2007.

And personal consumption expenditures (PCE) declined -3.1% (annualized). This is the first decline in consumer spending since 1991. Private investment declined -1.9%

The decline wasn't quite as bad as forecasts. But still frightening. U.S economy got big sign of a recession.