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"They're certainly under pressure from the overhang we've had in California and some concern about falling commodities prices," Mr. Konolige said.
It has unspooled alongside crushing economic challenges, as falling commodities prices have sent unemployment soaring to 9.5percentt from 6.8percentt a year ago.
Major mining companies have had trouble raising capital because of falling commodities prices and a tendency toward cost overruns, which has made it even more difficult for juniors to raise money for their projects, since chances of a buyout are remote.
For Texas farmers and ranchers like the Schrank brothers -- whose family has worked the same fields near here since the 1890's -- a growing season marked by falling commodities prices and relentless drought has in the last few months added yet another burden: a costly infestation of grasshoppers.
The MSCI index of Asia-Pacific stocks traded outside Japan was little changed while the Thomson Reuters index of regional shares was down 0.4percentt, dragged lower by a dip in shares in Australia, where falling commodities prices put pressure on shares of resources companies.
Chile has weathered the worldwide financial crisis and falling commodities prices better than could have been expected.
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Others offer an alternative explanation: falling commodity prices.
The personal consumption expenditures deflator fell, thanks to falling commodity prices.
And if the slowdown is global, falling commodity prices could deliver a further blow.
China is the main mystery (is it the reason for falling commodity prices?).
It's different for countries that benefit from falling commodity prices and those pursuing reform.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com