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At the start of 2003, the stockmarket downturn left the company with a pension-fund deficit of $19.3 billion.
But the economic downturn left the museum unable to raise money to refinance the loan, so the city took over the building.
The coup de grâce was administered when the recent global economic downturn left few customers willing to pay $12,800 for a round-trip ticket.
The downturn left the business jet market saturated with used aircraft for sale that could weigh on sales and prices of new jets for as long as two years.
The unemployment rates for New York City and State shot up in August as the rapidly spiraling economic downturn left more people without jobs, the state's Department of Labor said on Thursday.
As president of the nonprofit Al Sigl Center in Rochester, Daniel M. Meyers remembers the last time an economic downturn left donors worrying about how to fulfill their pledges.
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Indeed, the crisis threatens to widen the economic divide within Eastern Europe, as richer, well-run countries like the Czech Republic better withstand the downturn, leaving weaker peers further behind.
But the combination of luxury goods and automobile parts proved a poor one in this economic downturn, leaving the town of around 120,000 exposed to the clampdown on spending by consumers, particularly in the United States.
As the economic downturn leaves many small businesses struggling with rising expenses and a frozen credit market, some tailors in Manhattan have found a silk lining: an uptick in business over the past month, as more people like Ms. Simmonds are choosing to make do by mending.
Converting China's GDP into dollars at market exchange rates therefore understates the true size of its faster-growing economy and, in turn, understates world growth.The IMF's definition of global recession also takes account of the fact that the trend growth rate in emerging economies is higher than in developed ones, so even a steep downturn will leave GDP still expanding.
Yes, the same downturn that left thousands without food and clean water.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com