Weak growth heightens US recession fears


	Weak growth heightens US recession fears

JICWyllie

1-30-2008 2:00 PM

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tags:

economy, i-recession, i-risks

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/819f3fd9-9560-4614-a5dd-6f4ce20ad3a3/6EEC6AAC-3569-479E-AF07-421C3F48C736/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.ft.com/cms/s/0/9aa381ac-cf45-11dc-854a-0000779fd2ac.html" href="http://www.ft.com/cms/s/0/9aa381ac-cf45-11dc-854a-0000779fd2ac.html" style="font-size: 11px;">www.ft.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/9aa381ac-cf45-11dc-854a-0000779fd2ac.html">The sharply slower growth in the US economy was mostly driven by the housing slump, where spending plunged 23.9 per cent in the fourth quarter – a steeper decline than the 20.5 per cent drop in the third quarter. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/9aa381ac-cf45-11dc-854a-0000779fd2ac.html">Inventories were drawn down at an unexpectedly fast $3.4bn annual rate, wiping off 1.3 percentage points off the growth rate in the fourth quarter, but raising the possibility that companies have already made the most significant adjustments to their stockpiles.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/9aa381ac-cf45-11dc-854a-0000779fd2ac.html">This week, it emerged that durable goods orders, which measure demand for big-ticket purchases, rose an unexpectedly strong 5.3 per cent in December.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/9aa381ac-cf45-11dc-854a-0000779fd2ac.html">Combined, the weak GDP data and the strong showing on the ADP report will increase the belief that while housing market woes continue to worsen, other parts of the US economy appear to be holding up. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/9aa381ac-cf45-11dc-854a-0000779fd2ac.html">While employment in the construction industry fell by 13,000 jobs, and manufacturing employment was flat, employment in the service sector grew by 141,000 jobs.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/6EEC6AAC-3569-479E-AF07-421C3F48C736/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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