Word: consumerized
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How historical? The -6.2% figure represents the worst quarter for economic growth in the U.S. since 1982, when the economy shrank at a 6.4% annual rate. And the BEA - which said new data on exports, consumer spending and inventories were the main causes of the dramatic change in its estimate...
The sources of economic weakness in the fourth quarter were across the board. Consumer spending dropped at a 4.3% pace, its worst performance since 1980. Nonresidential private fixed investment - a.k.a. capital spending - fell at a 21.1% rate, the worst since 1975. Exports fell at a 23.6% annual pace, the worst...
Unless it ends suddenly tomorrow, all signs are that this will stack up as the worst economic downturn in the U.S. since the Great Depression. But if government spending is able to begin stabilizing the economy sometime in the second half of this year, the scale of the decline in...
Harvard has inked a custom loan arrangement with financial services giant JPMorgan Chase designed to make it easier for international graduate students to fund their education, University officials announced Friday. The recently signed deal with JPMorgan, which had been in the works for over six months to replace a previous...
The colorful t-shirts of Everything’s Jake still proclaim that “Life is Good,” but the harsh business climate has not borne out the optimism of their mantra. Everything’s Jake—an outdoor apparel store that carries ?...