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Those who worry that a protracted slowdown looms could find supporting evidence in the export figures.
"It's an important slowdown but it's not a very deep slowdown, it's more a protracted slowdown".
The deputy chief executive, Brian Gilbertson, said a protracted slowdown might hurt future earnings.
"It's an important slowdown but it's not a very deep slowdown, it's more a protracted slowdown". Julian Jessop, chief international economist at Capital Economics, said: "The US authorities' unwillingness to underwrite a rescue of Lehman Brothers marks a new phase of the continuing financial crisis.
He said that he was more worried about a protracted slowdown and not being able to cut deposit rates than about his swaps.
In commodity markets, crude oil retreated from its session highs after tumbling more than $4 a barrel on Wednesday on concerns about weak demand for fuel as the U.S. and European economies face the risk of a protracted slowdown.
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The chairman of the Federal Reserve said the measure "seemed appropriate" given the outlook for a protracted economic slowdown.
The lack of steady leadership, and the increasing difficulty that central bankers from the 12-nation euro zone have had in reaching agreement, makes it less likely than before that Europe can step in as the engine of world economic growth if the American economic slowdown becomes protracted.
Cathy Barnard, Westport's town planner, said, "We have not seen a slowdown in building permits, but projects are becoming more complicated, requiring protracted review".
A pessimistic outlook issued Wednesday by the World Bank added to the gloom, with Kaushik Basu, the bank's chief economist, noting in a news release that "the slowdown in the real economy is turning out to be unusually protracted".
In the Square Mile, a brief glance at the stock market shows the impact of a slowdown in Chinese manufacturing output last month – and the fear that this will become protracted.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com