Financial Times FT.com

New data underline severity of recession

By Alan Rappeport in New York

Published: March 5 2009 16:20 | Last updated: March 6 2009 00:57

Evidence of the severity of the US recession continued to pile up on Thursday as data showed business spending was stalling, homeowners were falling further behind on their mortgages, and more workers were joining the unemployment lines.

The data pointing to shrinking business spending and the continued pace of workers filing for unemployment benefits signalled that Friday’s official employment report could be worse than originally feared.

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