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Grim forecast of recession with slipping leading indicators
Washington officials warn the economy faces continued weakness as October leading indicators fall 1.8 percent marking a three month decline. The Commerce Department reports a rising trade deficit to 5.3 billion with exports down 3.1 percent and imports up 9.4 percent, signaling a potential year end deficit well above 36.4 billion. Experts caution months of recession ahead but call for cautious optimism about a possible spring rebound.
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Washington
UPI
Commerce Department
Allen Sinai
Data Resources Inc
Ortner