Friday, January 30, 2009

"Headless body found in topless bar"

Now, that was a great headline. In contrast with today's

Steep Slide in U.S. Economy, but Not as Dire as Forecast


I dunno, seems pretty dire:

The gross domestic product — a crucial measure of economic performance — shrank at an annual rate of 3.8 percent in the fourth quarter of 2008. The decline would have been much steeper — more than 5 percent — if shipments of goods had fallen as sharply as orders did.

“The difference between 3.8 and 5.1 percent is the inventory buildup,” Nigel Gault, chief United States economist at IHS Global Insight, said. “My only explanation is that companies could not cut production fast enough.”

With inventory accumulation gone, the economy will contract in first quarter at more than a 5 percent annual rate, Mr. Gault predicted.

Labels: ,

0 Comments:

Post a Comment

<< Home

Weblog Commenting by HaloScan.com Site Meter