DJ Fed Beige Book: Econ 'Generally Weak,' Consumers 'Pinched'
June 11th, 2008
WASHINGTON (Dow Jones)--The U.S. economy remained weak through May, a roundup of reports from regional Federal Reserve districts released Wednesday showed, as consumers were "pinched" by rising food and energy prices and labor markets softened.Posty powiązane:
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General Motors (GM) epitomized the fall of the U.S. economy and stock market Wednesday, trading at its lowest level in more than 36 years, and dragging the Dow Jones Industrial Average into bear territory. The Dow has narrowly averted a bear market this week, but the overwhelming pressure of skyrocketing oil prices and a weak job market on consumers, and hence auto makers, airlines and food processors was too much for markets in the end.