Fear of global depression rises as US reveals true extent of decline

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	Fear of global depression rises as US reveals true extent of decline

sunstreak509

3-2-2009 3:08 PM

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economy, business, markets, depression

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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/9364e03f-e080-4363-b0ca-cf6662cdefde/CFEBB7BD-30C4-4536-8332-72CF7CEB82B2/" 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://business.timesonline.co.uk/tol/business/economics/article5818391.ece" href="http://business.timesonline.co.uk/tol/business/economics/article5818391.ece" style="font-size: 11px;">business.timesonline.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://business.timesonline.co.uk/tol/business/economics/article5818391.ece"><div align="center"><img src="http://content9.clipmarks.com/blog_cache/business.timesonline.co.uk/img/144C2E2E-169D-40E6-BCF2-A2AEEEEFAB1F" alt="An American flag flies on Capitol Hill" /></div></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://business.timesonline.co.uk/tol/business/economics/article5818391.ece"><P>The US was hit by its most brutal slump in a quarter of a century at the end
of last year as consumers and businesses reined in spending, fuelling fears
that the world recession may be deeper than already feared.
</P><P>
Drastic revisions to official GDP figures that were far larger than expected
showed the world's biggest economy was shrinking at an annual rate of 6.2
per cent in the final quarter of last year.
</P><P>
The pace of contraction, the worst since early 1982, was much worse than the
3.8 per cent rate initially estimated and the news jolted markets worldwide,
rekindling anxieties over the threat of a global depression.
</P></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/CFEBB7BD-30C4-4536-8332-72CF7CEB82B2/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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