Manufacturers are ending a bruising year with a new round of bad news and grim outlooks for 2009.
The New York Times
Industrial production fell 0.6 percent in November as the country’s output of cars, automotive goods, home electronics, appliances and furniture tumbled in the face of declining orders, the Federal Reserve reported on Monday. Consumers and commercial buyers reduced their spending in the face of the worst economic slowdown in two decades. Industrial production rose 1.5 percent in October, revised up from an initial increase of 1.3 percent.