Economists generally wait for production to shrink for six months in a row before they declare a re-cession. But the bureau, a private group, uses a wider set of information to measure the economy. Thenews only confirmed what many people already knew: that the world's largest economy is weak and maynot recover soon.
Worsening conclitions have led to a big drop in spending, especially on costly products like new cars. Even Japanese automaker Toyota saw its sales fall thirty - four percent in the United States in November from a year ago.
The heads of Chrysler, Ford and General Motors retumed to Congress this week to again ask for federal aid.
Congressional leaders denounced(指责) them two weeks ago after they came in private jets with no clear plans for saving their industry. This time, the chiefs drove to Washington in fuel- saving hybrid vehicles. And their companies presented detailed restructuring plans. The reguest for aid has risen from twenty-five billion dollars two weeks ago to thirty-four billion in loans and credit lines.
G.M. wants almost half of that, and says it needs four billion dollars this month. It warned that without support it cannot continue to operate.
Ford is in a better position, But the sharing of suppliers means it could be affected if G.M. or
Chrysler fails. Ford is asking for a nine billion dollar credit line in case it needs it.
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