Thursday, February 7, 2008

Data suggest economy stagnating (Reuters)



Shopper Katie Gerber, left, and her sister Elizabeth Gerber, both of Beverly Hills, Fla., examine a jacket at a clothing and accessories shop, in Cambridge, Mass., Tuesday, Feb. 5, 2008. For the first time in almost five years, the nation's services sector ? including restaurants, travel, banking, construction and retail ? contracted in January, stoking rising worries of a recession. (AP Photo/Steven Senne)Reuters - The housing market has still not
reached bottom, the number of workers drawing jobless benefits
has hit a 2-1/4-year high and consumers are tightening their
purse strings, reports on Thursday showed, suggesting the
economy may have screeched to a halt.




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