Business news for Sat, 22 Dec 2007 & with words economy+recession. 3 news.

WHEN the economy last hit a severe road bump, shortly after we moved into the new millennium, some tried to talk us into recession.

The housing market is tanking, the credit markets are in crisis, and economists fear a recession could be on the way -- but in November at least, that wasn't enough to slow down the American consumer.

Personal consumption climbed by 1.1% in November, a sign the economy might not be as weak as feared, while the key core PCE gauge of inflation rose 2.2%, above the Fed's comfort zone.