Reports signal deepening recession hits holiday season
The Federal Reserve and ISM reports show a worsening economy with service sector declines, layoffs rising, and weak holiday shopping. Dow trading rose slightly as economists forecast more rate cuts. Consumers cut spending and retailers, hotels, and airlines face pressure amid the longest postwar downturn to date.
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Washington
U.S
Institute For Supply Management
Ian Shepherdson
Valhalla
New York
Fed
National Bureau of Economic Research
David Wyss
Stan‘dard & Poor’s
Fed woes deepen as holiday shopping slows nationwide
Commerce and manufacturing slow as the Federal Reserve reports a weakening economy across districts ahead of the holidays. The central bank hints at rate cuts and policy options while retailers anticipate a slow season with discounting and reduced spending. Consumer mood remains cautious amid job losses and falling home values.
MENTIONED IN THIS ARTICLE
Fed
Federal Reserve
Wall Street
Washington
National Bureau of Economic Research
Boston
Philadelphia
Cleveland
Dallas
ShopperTrak Act: Corp
Oil prices slide to near three year lows in market selloff
Sioux Falls observers note crude futures dipping to 46.79 a barrel on the NYMEX while U.S. inventories show an unexpected drop as demand weakens globally. Iran cautions that falling oil prices threaten its fragile economy amid a recession backdrop in the United States.
MENTIONED IN THIS ARTICLE
Sioux Falls
S.D
U.S
New York
Mercantile . Exchange
Iran
Mahmoud Ahmadinejad
Ous
Jim Ritterbusch
Energy Consultants
Ritterbusch
Meni Barat
Energy
Energy Departmen Energy Information
Shad
Platts
Energy, Information Arm
McGraw-Hill Cos
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Institute For Supply
The
Federalreserve.gov
Associated Press
Ndh
Source
Department of Labor
Ben Bernanke
Hes
Bosworth
Midland/Odessa
Taclado Abisc
IVA Cyne
Energy Department
Kenneth W. Higgins
Michelle Anderson
Rdh
Meteora
Aren CaRen Ca
Icaid
Ao Farenet
Iaeet
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