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US:no economic recovery as low consumer spending bites.
beanz
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10-31-2009 3:02 AM
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us economy
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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/fb4e1bde-8be0-4867-b233-e9046ae66bd3/7D51F200-B70F-4160-B5C6-E94D645A2254/" 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.nytimes.com/2009/10/31/business/31markets.html?hp&emc=na#" href="http://www.nytimes.com/2009/10/31/business/31markets.html?hp&emc=na#" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/31/business/31markets.html?hp&emc=na#"><NYT_HEADLINE type=" " version="1.0"> Stocks Tumble on Consumer Weakness; Dow Down 2.5% </NYT_HEADLINE></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.nytimes.com/2009/10/31/business/31markets.html?hp&emc=na#">No sooner did trading start on Friday morning than a rush of erroneous orders overwhelmed the computers at the <A title="More articles about the New York Stock Exchange." href="http://topics.nytimes.com/top/reference/timestopics/organizations/n/new_york_stock_exchange/index.html?inline=nyt-org">New York Stock Exchange</A>. By the time the day was over, the Dow Jones industrial average had plunged nearly 250 points, or 2.5 percent, in its sharpest sell-off since July. </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.nytimes.com/2009/10/31/business/31markets.html?hp&emc=na#"><P>Many economic and financial worries, from the troubles of hard-pressed consumers to the travails of <A title="More information about Citigroup Incorporated" href="http://topics.nytimes.com/top/news/business/companies/citigroup_inc/index.html?inline=nyt-org">Citigroup</A>, dragged financial shares lower through the day. The losses more than wiped out the market’s gains from the day before, when a government report seemed to suggest that the nation’s longest <A title="More articles about the recession." href="http://topics.nytimes.com/top/reference/timestopics/subjects/r/recession_and_depression/index.html?inline=nyt-classifier">recession</A> since World War II might be ending. </P></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.nytimes.com/2009/10/31/business/31markets.html?hp&emc=na#">Overall spending fell 0.5 percent in September, and personal income levels remained flat because of higher unemployment rates and decreases in wages.</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.nytimes.com/2009/10/31/business/31markets.html?hp&emc=na#">“As you get closer to 2010, a recovery isn’t in sight.”</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;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/7D51F200-B70F-4160-B5C6-E94D645A2254/blog/" title="blog or email this clip"><img src="http://content7.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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