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How `08 went bust It began with a general feeling that the economy, though struggling, would be fine. Then the mortgage crisis hit. Then the bottom fell out. Now, market players are in shock. The Globe and MailHeadhunters feel the squeeze as jobs are axed Now that the banking slump has spread to the real economy, global recruiting firms are feeling the pinch and the prospects for the sector are bleak FT.comRetailers` holiday sales plummet 4 percent NEW YORK (Reuters) - Retailers' sales fell as much as 4 percent during the holiday season, as the weak economy and bad weather created one of the worst holiday shopping climates in modern times, according to data released on Thursday by SpendingPulse. ReutersNo holiday cheer at the malls The 2008 holiday sales season is one of the worst for retailers in decades, as consumers' concerns about the economy and job losses crushed the typical year-end shopping exuberance. CNNKishore Singh: With the right `spirit` In the end, of course, Christmas cheer prevailed, fortified by a lot of alcohol and laced with not a little marijuana, but for a long while out there it had been touch and go. Business StandardSome doubt GMAC move will help car buyersAZ Central Gloomy prediction for UK economy An independent group of economists forecasts the biggest contraction in the UK economy since 1946 next year. BBCBritish economy to shrink by 2.9 % in 2009: think tank (AFP) Britain's economy will shrink by 2.9 percent in 2009, the worst one-year fall in gross domestic product (GDP) since 1946, a leading think tank warned Friday in one of the gloomiest forecasts yet. yahoo.comFor stores, a very un-merry holiday The 2008 holiday sales season is one of the worst for retailers in decades, as consumers' concerns about the economy and job losses crushed the typical year-end shopping exuberance. CNN MoneyEconomic crisis has small car sales making a U-turn Sales of small cars have taken the wildest ride in the auto business this year - first up, then down - and the gyrations may not be finished.Though gas prices tumbled, some automakers are trying to juice sales of fuel-thrifty economy cars by slashing starting prices to less than $10,000.Small-car sales doubled during the first half of the year as gas topped $4 a gallon. By the end of November, sales levels had tumbled 63% from the peak. Even with the drop, the segment is holding up better than others because overall vehicle sales are so weak. 'It's surprising,' says Ford Motor analyst George Pipas. No other vehicle segment saw such sales volatility in 2008. First, it was falling gas prices that slowed small-car sales. Now, it's the inability of recent college graduates and other price-conscious drivers to qualify for loans.'The credit market is squeezing first-time buyers out. They are getting laid off and being exposed to the economy more than others in their careers,' says General... CBC.ca1 2 |
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