Archive for the ‘credit crunch’ Category

Fed says economy has weakened this year

March 5, 2008
By JEANNINE AVERSA, AP Economics Writer 

WASHINGTON – The economy has weakened since the start of this year as shoppers turned even more cautious given the severe housing slump and painful credit crunch.
Manufacturers and other businesses, meanwhile, had to cope with skyrocketing prices for energy and other raw materials. The businesses’ ability to pass along higher prices to their customers was mixed, according to the Federal Reserve‘s new snapshot of nationwide economic conditions released Wednesday.

A shopper looks at electronics in a store in New York's Time's ...
A shopper looks at electronics in a store in New York’s Time’s Square. Economic uncertainty is forcing U.S. shoppers to consider low prices and bargains above all else for the first time in a decade, according to results of a survey released on Tuesday by AlixPartners.
(Brendan McDermid/Reuters)

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