October 30, 2008

GDP down 0.3% as consumers get thrifty

“About 59 percent of the U.S. trade deficit is due to petroleum imports.“
Download: GDP 3rd Quarter 2008 Report
Download: Trade Stimulus
The gross domestic product — driven largely by consumer spending — shrank but not as much as expected. Still, economists predict things will get worse before they get better. Consumers cinched their belts sharply in the last few [...]