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U.S. Economy Shrank 1.1% In Q3
1That was the worst showing since a 2% drop in Q1 of 1991 and a revision from the 0.4% drop first reported. The trade deficit was revised higher. Inventories fell $60.1 bil, or $10 bil more than thought. But lower inventories set the stage for a rebound. They show that the long inventory correction may be ending. Business investment improved, but still fell 9.3%. More on this page
Chicago Producers Index Drops
2Midwest manufacturing fell at a faster-than-expected pace in Nov. The index of Chicago purchasing managers dropped to 41.1 from 46.2 the prior month. That marked the 14th straight month below 50, signaling a decline in manufacturing. The jobs index slid to 37.2 from 42. All but the prices paid index declined. See Vital Signs on A2
U.S. Hunting For Bin Laden's Lair
3The search for Osama bin Laden focused on caves in eastern Afghanistan's Bora Tora region. He is believed to be using extensive underground bunkers stocked with supplies and munitions. U.S. jets pounded the last redoubt of his Taliban allies in Kandahar. Four anti-Taliban Afghan groups at U.N.-sponsored talks in Germany struggled to reach agreement. More on A4
Home Depot Growth Lifts Stock