US economic growth may be negative for this quarter

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LGT BANK TO NDTV: PRIVATE SECTOR DEMAND IN U.S. STILL NOT STRONG ENOUGH TO SUPPORT RECOVERY
LGT BANK TO NDTV: SEE ANOTHER CRR HIKE IN CHINA TO TIGHTEN MONETARY POLICY
COPPER UPDATE: COPPER DROPS IN SHANGHAI AS RISING IMPORTS ADD TO SUPPLIES
GOLD UPDATE: GOLD RISES FOR THE FIRST TIME IN FOUR DAYS ON FRESH BUYING
CRUDE OIL UPDATE: CRUDE OIL FALLS ON STRONGER USD, REDUCED OPEC COMPLIANCE
F&O CUES: STOCK FUTURES ADD 1.8 CRORE SHARES IN OPEN INTEREST
F&O CUES: INDIA VIX COLLAPSES A FURTHER 3.4% TO A NEW ALL TIME LOW
F&O CUES: TOTAL BUILD UP IN THE 5000 PUT TO A RECORD HIGH OF 1.01 CR
F&O CUES: 5000 PUT ADDS A FURTHER 12.9 LAKH SHARES IN OPEN INTEREST
F&O CUES: MARCH PUT-CALL RATIO RISES TO 1.57 ON THE BACK OF PUT-WRITING
F&O CUES: NIFTY MAR FUTS END WED AT A PREMIUM OF 2 PTS VS A DISC OF 4.45 PTS ON TUES
F&O CUES: NIFTY FUTURES ADD 1.6 LAKH SHARES IN OPEN INTEREST
GUJARAT NRE COKE: GUJARAT NRE TO INVEST A $500 MN IN ILLAWARRA COAL OPERATIONS
ASIAN MARKETS: ASIAN STOCKS RISE ON OUTLOOK FOR JAPAN, MSCI AP INDEX RISES 0.5%
U.S. ECO DATA: WHOLESALE INVENTORIES FELL UNEXPECTEDLY BY 0.2% IN JAN
U.S. MARKETS: US STOCKS UP FOR THE SECOND CONSECUTIVE DAY, FINANCIALS RALLY
U.S. MARKETS: DOW JONES UP 0.03%, NASDAQ UP 0.78%, S&P 500 UP 0.45% (WEDNESDAY CLOSING)
PM ECO PANEL: CASE FOR FUEL PRICE HIKE IF CRUDE PRICES RISE FURTHER
PM ECO PANEL: CASE FOR FUEL PRICE HIKE IF CRUDE PRICES RISE FURTHER
EMAAR MGF IPO: EMAAR MGF MAY HIT THE MARKET BY MID-APRIL: SOURCES
NMDC FPO UPDATE: SBI PUTS IN BIDS WORTH RS.500 CR, LIC WORTH RS.300 CR ON DAY 1: SRCS
NMDC FPO UPDATE: ONLY 10 LAKH SHARES OF RETAIL SUBSCRIBED ON DAY 1: SOURCES
NMDC FPO UPDATE: NMDC FPO SUBSCRIBED 0.17 TIMES ON DAY 1 OF ISSUE
NSE NEWS: NSE TO INTRODUCE RUPEE-BASED DJ FUTURES, S&P 500 FUTURES TRADING
NSE NEWS: NSE TO EXPLORE LISTING MORE INDIA-LINKED PRODUCTS ON SGX
NSE NEWS: NSE AND CHICAGO MERCANTILE EXCHANGE IN CROSS-LISTING PACT
FUND ACTION: DOMESTIC FUNDS NET SELL RS.375.42 CR IN EQUITIES ON MARCH 10 (PROVISIONAL)
FUND ACTION: FOREIGN FUNDS NET BUY RS.364.36 IN EQUITIES ON MARCH 10 (PROVISIONAL)
VIDEOCON IND: BOARD FIXES RATIO AT 2 SHARES FOR EVERY 9 HELD
VIDEOCON IND: BOARD APPROVES RIGHTS ISSUE AT RS.225/SHARE

Updated: 08/03/2008 | 11:30 AM IST

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Associated Press

Saturday, March 08, 2008 (New York)

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President George W Bush's top economic adviser is saying that is is possible that US growth will be negative for the current quarter.

Edward Lazear, Chairman of the White House Council of Economic Advisers, told reporters at the White House that the president's team has "definitely downgraded our forecast for this quarter."

His assessment tracks with most economic analysts but is the most pessimistic assessment heard out of the White House. Lazear said that the White House predicts that jobs numbers will pick up later this year. He would not discuss whether the White House is predicting that the economy will actually fall into a recession. Some economists think it already has.