New revisions to past data indicate that the economic output was weaker throughout the recession of the past 19 months than originally reported.

The Commerce Department had previously estimated that GDP, which captures the value of goods and services produced within US borders, rose 1.1 percent in 2008. That was revised down to 0.4 percent.

Meanwhile, the International Monetary Fund said Friday the sharp contraction in the US economy 'seems to be ending' but recovery will be slow with risks still looming from the weak labor and housing markets

In its annual report on the US economy prepared before release of US data, The IMF stuck to earlier forecasts that gross domestic product will shrink by 2.6 percent in 2009 and then rise by 0.8 percent in 2010.

'As a result of their increasingly strong and comprehensive policy measures, the sharp fall in economic output seems to be ending, and confidence in financial stability has strengthened,' it said.

'Nevertheless, with financial strains still elevated, the recovery is likely to be gradual, and risks are tilted to the downside,' it said.