European Central Bank President Jean-Claude Trichet gestures as he arrives to address the media, after a meeting of the European Central Bank at the Belgian National Bank in Brussels, Thursday Dec.4, 2008. (AP Photo/Yves Logghe)
(AP)The Bank of England said Thursday the downturn had gathered pace, with consumer spending and business investment stalling while residential investment has fallen.
House prices fell at their fastest monthly rate in 16 years during November, Halifax said. New car sales also fell, by 37 percent from a year earlier.
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Associated Press writers Matt Moore in Frankfurt, Malin Rising in Stockholm and Jan Olsen in Copenhagen contributed to this story.
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