Private Sector Slowdown Heightens Recession Fears
Source: Reuters, Leah Schnurr (9/22/11)
"Private sector business activity in Europe and China declined sharply this month."
Private sector business activity in Europe and China declined sharply this month, and new claims for U.S. jobless benefits remained high, underlining fears that the global economy could lapse back into recession.
The Eurozone's dominant service sector saw a shock contraction in September, its first in two years. Its manufacturing sector, which drove most of the bloc's recovery, shrank for the second month running, surveys showed on Thursday.
In the United States, new claims for jobless benefits fell last week, but the decrease was not enough to alleviate recession worries. . .View Full Article