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Economy Drops

10:28 AM MST | December 5, 2008 | Arnold Pearlman

Export figures are based on fob values excluding re-export; import figures on cost, insurance, and freight. Sources: Haver Analytics (New York), based on data from the U.S. Dept. of Commerce and The Federal Reserve Board. GDP fell at an annualized rate of 0.3% in the third quarter, while consumer spending tumbled 3.1%, its largest quarterly drop since the 1991-92 recession. Outlays on consumer durables plunged 14.1%, and nondurable spending was off 6.4%. A modest gain of 0.6% in household purchases of services prevented a more serious decline in overall consumer...

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