January 30, 2009
US output drops
Story link: US output drops
The dollar and the pound have seen a huge devaluation over the last few months, which makes travellers from many countries slightly more wary about what used to be bargain purchases.
Instead of coming to the UK for manufacturing, companies are venturing out in China, while the US has seen a sudden drop in exports to the UK.
US economic output fell 3.8% in the last three months of 2008, the worst quarterly contraction in more than 26 years, official figures have shown.
Much steeper than the 0.5% fall between August and October, it is also the first time the US has seen consecutive quarterly economic declines since 1991.