Snow Blamed on the slump in the Economy

The transcript discusses the economic impact of severe winter weather, which led to a 0.5% shrinkage in the economy between October and December. While some sectors like manufacturing performed well, many businesses struggled. Local business owners shared their challenges, highlighting a lack of growth and cautious consumer spending. The transcript also addresses concerns about tax rises, spending cuts, and rising unemployment, predicting a tough year ahead for families and businesses. Despite some recovery in spending, the risk of further economic dips remains.

How did consumer behavior change in response to the economic conditions described?

What predictions are made about the economic situation in 2011?