David Kirkpatrick

December 8, 2008

Retail is down …

Filed under: Business — Tags: , , — David Kirkpatrick @ 4:01 pm

maybe for months? This bodes poorly for the holiday shopping season.

From the link:

The sharp slide in economic activity that began in October looks to have deepened in November,” wrote Seamus Smyth, an economist for Goldman Sachs.

Economists have been lowering their forecasts for growth in light of the sharp drop off in November. The median forecast for fourth-quarter growth is now negative 4.1%, with negative 2.9% expected for the first quarter. Most economists don’t see a rebound in growth until next summer.

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