Highlights from this month's issue:

• September’s crisis in the financial markets led to the biggest government intervention since the Great Depression with a $700 billion bailout plan
• In the current third quarter, numerous economic releases indicate an ongoing slowing in activity
• 84,000 workers lost their jobs in August, and even more workers were let go in June and July than originally reported
• After adjusting for inflation, real consumer spending on goods and services registered declines in June and July
• As consumers’ net worth shrinks and they struggle with higher gas prices and mortgage payments, credit problems continue to mount
• This "September to Remember" has led to numerous downward revisions to economic forecasts for the remainder of 2008 and 2009

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Read the full update attached below.