The biggest quarterly fall in consumer activity in 28 years pushed the U.S. economy closer to an official recession in the third quarter.
Some economists say the official numbers, which showed American economic activity shrank for the first time since 2001, confirms their belief the economy is already in recession. Conway Gittens reports from New York.SPEAKER: Kurt Karl, chief economist, Swiss Re; Edward Lazear, chairman, White Council of Economic Advisors
