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Discount retailers Wal-Mart and Costco, which stand to benefit from the ongoing downturn in consumer spending as shoppers trade down to lower-priced stores, both fell short of expectations.
Lynn Phillips, a financial adviser with Raymond James, says that one reason tech firms could be ramping up now is because during the ongoing downturn there had been a movement to delay spending on tech.
If you recall, early this year, I stated that we are in depression, making the case for the ongoing downturn as a depression with a small 'd.' Nevertheless, I was quite optimistic about the ability of policymakers to engineer a fake recovery predicated on stimulus and asset price reflation and I certainly saw this as bullish for financial shares if not the broader stock market.
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The ongoing economic downturn is an obstacle.
For example, the ongoing eurozone downturn has hurt Turkey and emerging-market economies in Central and Eastern Europe, owing to trade links.
But the depth and duration of the ongoing economic downturn coupled with the fiscal squeeze affecting all levels of government has left some policymakers in search of ways to reduce the cost of the safety net for the unemployed.
It's a loss of priority - a lost sense of what is important and what isn't.' In my own case, though I am concerned about the environment and the ongoing economic downturn, these are not the things that get me in a funk.
However, despite the huge pressures of the multichannel world, exacerbated by the ongoing financial downturn, Channel 4 is still a force to be reckoned with creatively – picking up a record awards haul this year – and commercially, with a public purpose stronger than any other broadcaster outside the BBC.
Veteran film critic J Hoberman getting his walking papers at the Village Voice is but the latest in a long list of attritions in the ranks of quality American arts criticism, and the ongoing economic downturn will surely mean more papers closing down and/or letting staff critics go in favour of freelancers and wire copy in the coming months.
Christchurch council leader Alan Griffiths said: "The ongoing economic downturn has had a far-reaching impact on the public sector.
Bear Stearns expects net income to be $35 million this year (because of the ongoing economic downturn), jumping to $44 million in 2003.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com