It is expected that growth in the last quarter of the year 2007 has grown on a slower pace than the third quarter, the expected growth is 0.6% down from 4.9% in the third quarter highlighting the depth of the crisis that stroke the U.S. economy badly in August.

Dampened spending, tightening credit conditions, less confidence and higher food and energy prices led the economy to start taking the high road towards recession, where investments lost a lot of their values, stocks are sinking and the financial sector has already drowned and the survivors are just few.

Yes, the credit crisis and the housing slump got to the economy in all its sectors, manufacturing is slowing, unemployment is increasing, as all the aspects of the economy are hinting that the U.S. economy is heading straight forward to a great recession, yet the fed is trying so hard to escape it, but it looks like there is nothing they can do that can actually change the direction of that ship, there is a road it has to pass through, it's just a cycle.

Excuse me if I am a little bit of a pessimist here, but there is actually no reason so far to start getting our hopes high, I mean yes the existing and the new home sales improved last month, but that’s just a month, and I am not gonna get so excited over a month following a series of sharp falls.

Today's growth figure might give markets, especially the currencies market, a great hint on the current market trends, if we saw less than expected reading it will definitely mean that the U.S. economy is moving towards recession, while the opposite means that maybe the effect wasn’t that massive on the growth of the world's largest economy.