Posted by
Enrique on Friday, January 30, 2009 12:00:00 AM
The U.S. trade deficit shrank nearly 29 percent in November, the largest amount in 12 years, as weak consumer demand and plummeting oil prices caused imports to sink by a record amount.
A key index of the nation’s manufacturing activity fell to a 28-year low in December, according to a report released Friday. The Institute for Supply Management, a purchasing management group based in Tempe, Ariz., said its manufacturing index was 32.4 for December. That’s the lowest reading since June 1980, when it stood at 30.3.
As President-elect Barack Obama continues to push for quick action on a large-scale economic stimulus program, top Democrats on Wednesday said Congress must pass the bill by mid-February.
Confidence among consumers probably held near a record low in January as a growing number of Americans lost their jobs and houses, a private report may show.
There are likely to be a slew of bankruptcies this year, but the process will be more challenging and costly than ever as a drought in bankruptcy loans has changed the rules of the game.
Can things get any worse for fund investors? Apparently so. You already know what a terrible year 2008 was for your stock funds. Through Nov. 21, domestic equity funds fell 48% on average, while their foreign counterparts did even worse - dropping 54%. But it’s not just that the average fund lost around half its value. Every single stock fund was down for the year, according to Morningstar.