Economy Grew at a Crawl in First Quarter  

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• Retailers Checking Out as Economy Falters

  Apr 15, 08 8:00 AM CDT
  Stores across the country are closing their doors, the New York Times reports, victims of a downturn in consumer spending. Retailers are often heavily leveraged, and as the economy falters banks are tightening credit. Several chains, including Sharper Image, have declared bankruptcy; others like Footlocker, Ann Taylor, and Zales are closing stores to stay afloat. “You have the makings of a wave of significant bankruptcies,” said a former Kmart executive. More »

• Personal Spending Slows to a Crawl in February

  Mar 28, 08 11:37 AM CDT
  Personal spending—a major force in the health of the economy— rose just 0.1% in February, its smallest increase in 16 months, the Wall Street Journal reports. The increase, which actually beat analysts' estimate of a 0.1% decrease, came despite a bump in personal income and signs that inflation is easing, the Journal notes. More »

• GDP Growth Weakest Since '02

  Mar 27, 08 12:46 PM CDT
  The US economy sputtered—as expected—in the fourth quarter of 2007, growing at the slowest rate since 2002, MarketWatch reports. Estimated growth of the US gross domestic product was 0.6% for the last three months of 2007, matching economists' forecasts. Consumer spending grew 2.3%, and exports increased 6.5%, both beating the Commerce Department’s predictions. More »