US manufacturing hits 26-year low: ISM : The Institute of Supply Management said its manufacturing index slumped 2.7 points to 36.2 percent, far below the 50 percent level that separates expansion and contraction. The level was the lowest since May 1982. U.S. May Be in for ‘Great Recession,’ Longest Postwar: The longest economic slumps since 1945 were the 16-month downturns that ended in March 1975 and November 1982. The Great Depression lasted 43 months, from August 1929 to March 1933 Mortgage delinquencies shoot higher: The percentage of people who are two months behind on their mortgages shot up in the third quarter from the same period last year, according to credit reporting agency TransUnion LLC.
Wednesday, 3 December 2008
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