The economy is moving in reverse faster than the government can measure. The contraction for the fourth quarter of 2008 had been estimated at 3.8 percent just a month ago. Then the Commerce Department raised it to an astonishing 6.2 percent Friday — the largest revision since the government started keeping records in 1976.
The economy is moving in reverse faster than the government can measure. The contraction for the fourth quarter of 2008 had been estimated at 3.8 percent just a month ago. Then the Commerce Department raised it to an astonishing 6.2 percent Friday — the largest revision since the government started keeping records in 1976.
Gold prices dipped slightly Friday, marking a fifth straight day of declines that left the contract down 6 percent from a high of just over $1,000 an ounce last week.
California’s unemployment rate jumped to 10.1 percent in January, the state’s first double-digit jobless reading in a quarter-century.
The Obama administration hopes to tap the rich to help pay for its ambitious programs. Specifically, that would include slashing mortgage interest deductions for high-income taxpayers.
The U.S. government will boost its equity stake in Citigroup Inc to as much as 36 percent, bolstering the bank’s capital base in the latest emergency effort to save the ailing banking giant.
The U.S. economy suffered its deepest contraction since early 1982 in the fourth quarter, shrinking at a much worse-than-expected 6.2 percent annual rate as exports plunged and consumers slashed spending.
BANNING, Calif.—-The Morongo Band of Mission Indians today announced the grand opening of its new Administrative Complex, built to consolidate all of its administration offices and Tribal Council government affairs functions in one central location.
The economy contracted at a staggering 6.2 percent pace at the end of 2008, the worst showing in a quarter-century, as consumers and businesses ratcheted back spending, plunging the country deeper into recession.
STOCKHOLM, Sweden—-Regulatory News:
