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Jefferies' core trading business reported $286 million in revenue for the fourth quarter, down 25 percent from the period a year earlier, amid a continued slowdown in debt and equity trading.
Other signs point to a continued slowdown in spending.
While the manufacturing data indicated a continued slowdown, news about earnings did not.
Going forward, the debate is between those who see a continued slowdown and those who see a recession.
Nevertheless, while a continued slowdown in consumer borrowing and spending looks likely, there is still little to suggest this may trigger a recession.
China is a crucial market for Siemens and hundreds of other European companies, and a continued slowdown there could delay recovery of the euro zone.
Similar(41)
A European economic report Friday confirmed a continuing slowdown in the euro zone's factories, even as Washington reported data indicating a moderate improvement in the American economy.
Commodity companies in general were undermined by the World Bank warning of a continuing slowdown in China, a key market these days.
Jaguar Land Rover, owned by Tata Motors of India, said Chinese sales fell because of a continuing slowdown in the world's second-biggest economy and planned changes to new models.
PARIS — A European economic report Friday confirmed a continuing slowdown in the euro zone's factories, even as Washington reported data indicating a moderate improvement in the American economy.
On a conference call with analysts, he also said, "If this turns out to be a continuing slowdown, then we are working to get our cost base back to where it was in 1999".
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