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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Jan 06, 2009
Page
10
U.S. construction spending fell 0.6 percent in November as nonresidential projects rose 0.7 percent while housing dropped 4.2 percent. Analysts warn the gain is temporary and credit constraints threaten a steeper decline as the economy weakens.
Chrysler December sales drop 53 percent as overall U.S. auto market weakens amid recession. Toyota down 37 percent Honda 35 percent Ford 32 percent GM and Nissan 31 percent. Subaru up 0.3 percent with Forester and Impreza demand.
U S consumer bankruptcy filings rose nearly 33 percent in 2008 as a recession deepened. Total filings reached 1 064 927 up from 801 840 in 2007, with experts predicting further increases in 2009 due to job losses foreclosures and debt pressures.
The Treasury Department reports another 15 billion payment to seven banks from the 700 billion rescue fund. The largest disbursement, 7.58 billion, went to PNC Financial Services Group in Pittsburgh. Total government commitments rise to 187.5 billion as four states and Puerto Rico receive aid.
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