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The worries of an Us recession surged after a key barometer of the strength of the service sector dropped to its lowest level since 2001. With the services business being the last strong hold of economic growth and accounting for about three quarters of the economy, the slump seems inevitable. The Institute for Supply Management’s non-manufacturing index dropped to 41.9 from 54.4 in December 2007. It was the steepest fall since the index was launched and even the lowest level since the 9/11 terrorist attack. A value less than 50 indicates a contraction of service activity, suggesting that the recession could be worse than the relatively mild one experienced in 2001. Economist is now speculating how long and how deep the slump will be as it is going to be a broader and deeper slowdown than assumed.

If you are suffering because of credit card debt related issues , then you must consider coming out of the situation as soon as possible. It is commonly considered that debt can be eliminated only by consumer credit counseling or debt consolidation or settlement. However, there are other debt elimination methods that you should try first because they are free and easy. Out of these the two most common are the debt snowball and the avalanche method. What is debt snowball method? In most cases it is said that you must pay off the highest interest rate debts first. However, as per this method you are to focus more on paying off your low interest rate debts first so that you can generate some momentum. The advantage of starting with the debt that has the lowest rate of interest is that it will be paid off quickly. The money that you were paying towards it can be used to pay the debt that is the next lowest interest rate debt on your list...