May 13 (Bloomberg) — Retail sales in the U.S. unexpectedly dropped in April for a second month, indicating that rising unemployment is prompting consumers to conserve cash.
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LONDON (MarketWatch) - A deep recession took a turn for the worse in the first quarter of 2009, shrinking the euro-zone economy by a record amount as exports plunged and industrial output took a devastating hit, official data showed Friday. The 16-nation euro zone saw first-quarter gross domestic product shrink by 2.5% …
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May 14 (Bloomberg) — More Americans than forecast filed unemployment-insurance claims last week because of the Chrysler LLC bankruptcy that is likely to reverberate through the economy for months. (read more…)
HONG KONG, May 15 (Reuters) - Hong Kong’s economy shrank by 4.3 percent in the first quarter from the previous three months, the worst performance since records were compiled in 1990 and reflecting Asia’s vulnerability to the global economic downturn as plummeting exports hurt investment and consumption.
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