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In May, the last month with figures available, retail trade had its sharpest downturn since the 1980's.
The actors in "Friends", a comedy series, have each just signed up for another season on NBC for $1m an episode.Who would have thought that the media industry was in the middle of the sharpest downturn it can recall?
The firm, Gartner Dataquest, which is based in San Jose, Calif., said worldwide semiconductor revenue would be $147 billion this year, a 35percentt decline from last year, the industry's sharpest downturn ever.
"The electronics makers have experienced the sharpest downturn in 20 years, so after such a precipitous decline, it's difficult to fall further," said Jean Pascal Rolandez, head of equity research at BNP Paribas Securities in Tokyo.
To them I offer the words last week of Joe Grice, the chief economist at the Office for National Statistics, who commented that it "remains the sharpest downturn and slowest recovery on record".
And with the economy facing what now seems sure to be the sharpest downturn since the 1930s, the financial system balky and the government facing towering budget deficits, economists and policy makers acknowledge that there is no playbook.
Similar(51)
Like its competitors, Total faces one of the sharpest downturns in the history of the oil business.
By the same logic, a sharp downturn can shake confidence.
The company is suffering through a sharp downturn in sales.
That may change, in the event of a sharp downturn in the global economy.
That makes a sharp downturn in China less likely in the near future.
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