economists foresee no near term recovery amid euro crisis
An Associated Press survey of 43 economists finds a 26 percent chance of a recession in the next 12 months. They predict GDP growth around 2.0 percent this year with unemployment near 9 percent, and 8.5 percent in 2012, as weak consumer spending and Europe’s debt crisis weigh on the U.S. economy.
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Small raises expected in 2012
A Towers Watson survey projects U S salaried workers will see a 2.8 percent raise in 2012 after a 2.6 percent increase this year. The modest bump comes amid 3.6 percent inflation over the past 12 months and high unemployment at 9 percent, with firms wary of fixed payroll costs.
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Ford and Toyota to join forces on hybrid system
Ford and Toyota will sign an agreement to collaborate on a shared hybrid system for pickups and SUVs. The partners aim to cut development costs and speed market availability while setting industry standards for in vehicle communication and safety.
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Ohio gas prices fall as drivers hope for Labor Day dip
Ohio pump prices drop 5 cents to 3.51 per gallon in a weekly survey by AAA and others. The report notes a 16 percent drop since May 4 from a record 4.16, with a possible fall toward 3.15 by year end.
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