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After 30 years at the helm of Akron Children's, Considine still looks to future
New version of Mozilla Thunderbird landing soon
SCORE offers wide variety of workshops
About Matsos Greek Dressing & Marinade
All-in-one units jolt desktop computer sales
Does it work? Test team returns to try out new products advertised on television
Most Read Stories
Police accuse bank robbery suspect of gobbling up note (with dashcam video)
Victim of beating in Kent last week is declared dead at Akron hospital
Can DNA tests free ex-Akron captain?
Dad accused of forcing son into field, killing him
Does it work? Test team returns to try out new products advertised on television
Man found dead in North Akron home is identified
Blogs:
Pets:
Cat-loving chihuahua suckles seven abandoned kittens
The Heldenfiles:
Sunday Notebook
Patrick McManamon:
Browns sick after sick loss in Detroit
Akron Zips:
Zips advance to Sweet Sixteen
Tribe Matters:
Seven players added to Tribe’s 40-man roster
Cleveland Browns:
Post-game defensive quotes
Kent State Sports:
Kent State defeats Rochester College, 63-44
Cleveland Cavaliers:
Gameblog: Cavs vs. Philadelphia 76ers
Buckeye Blogging:
OSU – Michigan college football rivals meet in Baghdad
Varsity Letters:
Four area football teams play tonight
All Da King's Men:
The Sunday Sanity Challenge
Blog of Mass Destruction:
Will Health Care Reform Pass?
Akron Law Café:
Health Care Financing Reform: (69) The Brookings Institute Study on "Bending the Curve" – Four General Strategies
See Jane Style:
Vintage Chic
Car Chase:
TIME TO GET YOUR COLLECTOR CARS WINTERIZED
Let's Talk Real Estate:
Silverdome Potentially SOLD!
Ohio Travels with Betty:
George is looking for a Thanksgiving buffet in Akron.
Sound Check:
Steely Dan Plays "The Royal Scam" at E.J. Thomas Hall
HRLite House:
Personal Rant – You are All Wrong About Jobs, or the Lack of Jobs, Being the Reason People Do Not Live in NEO
Akron Gamer:
Nintendo's Mario endures even as games come and go
Fourth quarter could be low point of recession
By Martin Crutsinger
Associated Press
Published on Wednesday, Dec 24, 2008
WASHINGTON: As the longest recession in a quarter century intensifies, analysts believe the small decline in economic activity in the third quarter has worsened significantly in the current fourth quarter.
The Commerce Department said Tuesday that the gross domestic product, the broadest measure of economic health, declined at an annual rate of 0.5 percent in the July-September quarter. Corporate profits fell 1.2 percent.
Some economists believe the economy's decline in the October-December period could be as large as 6 percent. If so, that would be the worst quarterly drop since 1982.
''It will get a lot worse before it gets better,'' said Nariman Behravesh, chief economist at IHS Global Insight, a Lexington, Mass., forecasting firm. ''We are in the midst of the worst recession in the post-war period, even factoring in a massive stimulus program.''
Many economists think this quarter could mark the low point of the recession, which is already the longest in a quarter century, having started in December 2007.
Analysts are projecting that the huge plunge in GDP they expect in the current quarter will be followed by smaller declines in the first and second quarters of next year, before the economy starts growing again next summer. If the recession ends in June 2009, as many economists are forecasting, it would have lasted 18 months, making it the longest recession since World War II.
Meanwhile on Tuesday, the Commerce Department said new home sales dropped 2.9 percent in November to an annual sales rate of 407,000 units, the slowest pace in nearly 18 years.
Meanwhile, the National Association of Realtors said sales of previously owned homes fell by 8.6 percent to an annual rate of 4.49 million units.
The median sales price of an existing home plunged 13.2 percent in November to $181,300, the biggest year-over-year drop on records dating to 1968. The median, or midpoint, price for a new home sold in November dropped by 12.7 percent to $220,400.
WASHINGTON: As the longest recession in a quarter century intensifies, analysts believe the small decline in economic activity in the third quarter has worsened significantly in the current fourth quarter.
Get the full article here.
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