Bronze linings

Economy: The economic news may be terrible—but it’s not uniformly bad | Timothy Lamer

Justin Sullivan/Getty Images • inset photos by Associated Press

A slew of sometimes-record bad economic reports emerged as 2008 wound down last week. But if you look hard enough, not all of the financial news is bad, and some good news may keep the economy from worsening next year.

The bad news made big headlines:

• The Standard & Poor's/Case-Shiller housing index dropped by 18 percent in October, the latest month with reported data. It was the largest drop since the creation of the 20-city index in 2000. "The [housing] numbers are getting worse," economist Patrick Newport told the Associated Press. "And I think they will get quite a bit worse over the next two months because housing demand has plunged since the market went into turmoil."

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