November 17, 2008 at 14:15 PM EST
Why Is the Dollar Rising?
Where Have All the Consumers Gone?Retail sales and prices of goods imported to the US dropped by the most on record signaling the economy may be in its worst slump in decades. Purchases fell 2.8 % in October the fourth straight decline the Commerce Department said today in Washington. Labor Department figures showed import prices dropped 4.7% pointing to a rising danger of deflation. A private report said consumer confidence this month remained near the lowest level since 1980 according to Bloomberg.Circuit City filed for bankruptcy. Best Buy (BBY) said sales were down and gave even lower guidance for ...
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