Signs of Economy Going Down Getting Obvious

Last Revised on March 6, 2008

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The US Economic downturn is spreading now. The trouble that started in housing is now affecting a variety of industries.

Manufacturing supply index was at 48.3 rate in February 2008. That was the weakest manufacturing rating index in nearly five years.

The economy has weakened since the start of this year. Shoppers have been very cautious and housing market suffering from sever slump and painful credit crunch are some of the top reason why economy is not performing well.

According to the recent Commerce Department reports, construction spending in January took the biggest hit in 14 years – it went down.

There are also reports out there that shows vehicle sales are slowing down and are sluggish, with little exception. Trucking, shipping, and other transportation services were off. Banks were tightening the availability of credit in most areas, and demand for loans was stable to dropping.

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