GT500-07 Posted November 17, 2008 Report Share Posted November 17, 2008 The U.S. economy is in recession and will contract at a faster pace in the fourth quarter, extending the decline into early 2009 as high unemployment crimps consumer spending, a survey showed. The National Association of Business Economists' poll of 50 professional forecasters released on Monday found that real gross domestic product was expected to fall 2.6 percent in the fourth quarter and slump 1.3 percent in the first three months of 2009. http://news.yahoo.com/s/nm/20081117/bs_nm/...economy_outlook Link to comment Share on other sites More sharing options...
GT500-07 Posted November 17, 2008 Author Report Share Posted November 17, 2008 Obama Says He Will Do `Whatever It Takes' on Economy President-elect Barack Obama said the U.S. government will do ``whatever it takes'' to revive the economy, and that means ``we shouldn't worry about the deficit next year or even the year after.'' In the short term, ``the most important thing is that we avoid a deepening recession,'' Obama said in an interview broadcast last evening on CBS News's ``60 Minutes.'' http://news.yahoo.com/s/bloomberg/20081117...pWhGgL3wfGb.HQA Link to comment Share on other sites More sharing options...
GT500-07 Posted November 17, 2008 Author Report Share Posted November 17, 2008 Forecasters: U.S. in 14 month recession The U.S. economy fell into recession last spring and will contract sharply this quarter as more than 200,000 workers per month are added to the rolls of the unemployed, a survey said on Monday. The Philadelphia Federal Reserve's latest Survey of Professional Forecasters removed some of the glow from an earlier report showing industrial output rebounded in October after hurricane disruptions produced a stunning fall in September. http://news.yahoo.com/s/nm/20081117/ts_nm/us_usa_economy Link to comment Share on other sites More sharing options...
ingram4868 Posted November 17, 2008 Report Share Posted November 17, 2008 Sounds like it's time to take some of that Federal money and start rebuilding the infrastructure of the Country again. Link to comment Share on other sites More sharing options...
srk1959 Posted November 17, 2008 Report Share Posted November 17, 2008 Sounds like it's time to take some of that Federal money and start rebuilding the infrastructure of the Country again. That could be an option........but.........I just received a news alert on Saturday that asphalt is in very short supply so most road/highway construction may have to be done with concrete. The ole USA just can't catch a break! Link to comment Share on other sites More sharing options...
moabman Posted November 17, 2008 Report Share Posted November 17, 2008 Asphalt was proabaly in short supply because of the oil price spike last spring and summer. Now that the prices are down more than 60%, there should be an ample supply soon. Link to comment Share on other sites More sharing options...
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