Wednesday, Apr 29, 2009
Are US House Prices likely to go back up soon?
Times: US economy shrinks faster than forecast - 6.1% in first quarter
The US economy contracted at a sharper-than-expected rate between January and March, revealing that the world's largest economy is still mired in deep recession.
Posted by alan @ 03:34 PM (391 views) Add Comment
2 Comments
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1. dohousescrashinthewoods said...
When the US sneezes.. Mr Darling's budget gets covered in slime.
Another nail in the coffin of that growth forecast.
2. britishblue said...
These figures are scary and if they had been suggested 2 years ago would have been laughed out of court. But nowadays everyone (That has a job) seems to be blissfully unaware of just how bad things are. The stock market also seems little effected.Just one quarters decline would be a serious recession in its own right if these figures were spread over a much longer period of time. In the last month we have had some of the worst statistics since the war, yet the culture of spin and hype is still alive and kicking. The reason why sterling has held its ground over the last few months has nothing to do with the health of the UK economy, rather that things are getting worse elsewhere and the pass the parcel of bad news game continues