It's not. 0.08 is actually greater than 0.01. (Maybe you meant -0.08 is less than -0.01?)
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It is greater
1 is more (greater). .001 is 1000 times less than 1. .001 is 1/1000.
Without a decimal point, they are both the same. If you asked "Which is less .01 or .001", then .001 is the smaller number.
008 is the same as 8, and 0.04 is smaller than 8.
no 4 is less than 5. Even 4.9999999999999 is less than 5. 5 .001 is greater than 5