"With businesses sitting on their hands and consumers saving rather than spending, market economists have been downgrading forecasts for the current three-month period to just 1 per cent growth or less. Some fear the economy may have already headed into reverse, after economic reports revealed a sharp fall in new home sales, tepid manufacturing data and mixed jobless claims.
Even at current rates, economic growth is too modest to create enough jobs to shift America’s stubbornly high unemployment rate, stuck above 9 per cent."
http://www.theage.com.au/business/fe...828-13wqo.html



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