Recession Watch

FILES - A sign reading: "I'll be right back" is displayed next to an interview room in a branch of Germany's federal employment agency, the Bundesagentur fuer Arbeit, in Berlin on July 15, 2008. German unemployment fell further in August, but the biggest European economy is flirting with recession and its job market will probably feel the effects later this year, analysts said on August 28, 2008. AFP PHOTO / JOHN MACDOUGALL (Photo credit should read JOHN MACDOUGALL/AFP/Getty Images)

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A small pet dog is presented during the third annual Pet Fashion Week August 23, 2008 in New York City. It's a dog's life during hard economic times. But Chihuahuas in a tutu? Pugs in designer tank-tops? Dachshunds draped in Swarovski bling? That was the scene at the third annual Pet Fashion Week in Manhattan this past weekend, where despite a looming US recession, the world's dog-loving fashionistas gathered to share ideas, market their products, strut a canine catwalk and raise money for charity. At a time when department stores are suffering from shrinking sales of clothing, shoes and accessories such as handbags, those in the pet fashion industry are thriving, thanks to dog-loving elites and the buying impulses of millions of other pet owners. AFP PHOTO (Photo credit should read -/AFP/Getty Images)

AFP/Getty Images

A small pet dog is presented during the third annual Pet Fashion Week August 23, 2008 in New York City. It's a dog's life during hard economic times. But Chihuahuas in a tutu? Pugs in designer tank-tops? Dachshunds draped in Swarovski bling? That was the scene at the third annual Pet Fashion Week in Manhattan this past weekend, where despite a looming US recession, the world's dog-loving fashionistas gathered to share ideas, market their products, strut a canine catwalk and raise money for charity. At a time when department stores are suffering from shrinking sales of clothing, shoes and accessories such as handbags, those in the pet fashion industry are thriving, thanks to dog-loving elites and the buying impulses of millions of other pet owners. AFP PHOTO (Photo credit should read -/AFP/Getty Images)

AFP/Getty Images

A small pet dog is presented during the third annual Pet Fashion Week August 23, 2008 in New York City. It's a dog's life during hard economic times. But Chihuahuas in a tutu? Pugs in designer tank-tops? Dachshunds draped in Swarovski bling? That was the scene at the third annual Pet Fashion Week in Manhattan this past weekend, where despite a looming US recession, the world's dog-loving fashionistas gathered to share ideas, market their products, strut a canine catwalk and raise money for charity. At a time when department stores are suffering from shrinking sales of clothing, shoes and accessories such as handbags, those in the pet fashion industry are thriving, thanks to dog-loving elites and the buying impulses of millions of other pet owners. AFP PHOTO (Photo credit should read -/AFP/Getty Images)

AFP/Getty Images

A small pet dog is presented during the third annual Pet Fashion Week August 23, 2008 in New York City. It's a dog's life during hard economic times. But Chihuahuas in a tutu? Pugs in designer tank-tops? Dachshunds draped in Swarovski bling? That was the scene at the third annual Pet Fashion Week in Manhattan this past weekend, where despite a looming US recession, the world's dog-loving fashionistas gathered to share ideas, market their products, strut a canine catwalk and raise money for charity. At a time when department stores are suffering from shrinking sales of clothing, shoes and accessories such as handbags, those in the pet fashion industry are thriving, thanks to dog-loving elites and the buying impulses of millions of other pet owners. AFP PHOTO (Photo credit should read -/AFP/Getty Images)

AFP/Getty Images

A small pet dog is presented during the third annual Pet Fashion Week August 23, 2008 in New York City. It's a dog's life during hard economic times. But Chihuahuas in a tutu? Pugs in designer tank-tops? Dachshunds draped in Swarovski bling? That was the scene at the third annual Pet Fashion Week in Manhattan this past weekend, where despite a looming US recession, the world's dog-loving fashionistas gathered to share ideas, market their products, strut a canine catwalk and raise money for charity. At a time when department stores are suffering from shrinking sales of clothing, shoes and accessories such as handbags, those in the pet fashion industry are thriving, thanks to dog-loving elites and the buying impulses of millions of other pet owners. AFP PHOTO (Photo credit should read -/AFP/Getty Images)

AFP/Getty Images

A small pet dog is presented during the third annual Pet Fashion Week August 23, 2008 in New York City. It's a dog's life during hard economic times. But Chihuahuas in a tutu? Pugs in designer tank-tops? Dachshunds draped in Swarovski bling? That was the scene at the third annual Pet Fashion Week in Manhattan this past weekend, where despite a looming US recession, the world's dog-loving fashionistas gathered to share ideas, market their products, strut a canine catwalk and raise money for charity. At a time when department stores are suffering from shrinking sales of clothing, shoes and accessories such as handbags, those in the pet fashion industry are thriving, thanks to dog-loving elites and the buying impulses of millions of other pet owners. AFP PHOTO (Photo credit should read -/AFP/Getty Images)

AFP/Getty Images

BEIJING - AUGUST 22: Chinese workers operate a real estate company at the Central Business District on August 22, 2008 in Beijing, China. Chinese officials have reiterated that Beijing will not experience economic recession after the Olympic Games as predicted by many economists. The Beijing Olympics will end on August 24. (Photo by Andrew Wong/Getty Images)

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BEIJING - AUGUST 22: Chinese cyclists ride across a junction at the Central Business District on August 22, 2008 in Beijing, China. Chinese officials have reiterated that Beijing will not experience economic recession after the Olympic Games as predicted by many economists. The Beijing Olympics will end on August 24. (Photo by Andrew Wong/Getty Images)

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BEIJING - AUGUST 22: A man talks on his mobile phone as he stands in front of the new headquarters of China Central Television under construction at Central Business District on August 22, 2008 in Beijing, China. Chinese officials have reiterated that Beijing will not experience economic recession after the Olympic Games as predicted by many economists. The Beijing Olympics will end on August 24. (Photo by Andrew Wong/Getty Images)

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