GDP Around the World

The developed world revolves around 3 economic axes: the U.S., Japan, and Europe. U.S. real GDP growth was –3.8% in the last quarter of 2008.

Japan is off by a ton more : see “Japan's Slump Is Broadening to Service Sector” in the February 18 issue of The Wall Street Journal.

The news isn’t quite as bad for Europe, but it’s still worse than the U.S.: see “Euro-Zone Economy Registers a Grim Performance” in the February 16 issue of The Wall Street Journal.