Author: 123jump.com Staff
123jump.com
Last Update: 12:19 PM EST December 01 2006
Twin deficits of budget and trade deficits are finally dragging the dollar to a record low against world currencies. softening economy and slowing manufacturing and construction activites only added to the latest slide. The U.S. likely to report record annual trade deficit of more than $800 billion and current account deficit of higher than 5.8% of GDP in the year 2006. Lower dollar pushed stocks lower in the mid-day trading.
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