We are all aware how the US Economy is being hit hard by economic situations that even US President Bush was quoted as saying “these are hard times”. Economies worldwide are feeling the effect of the weakening US dollar. The USA being one of the biggest consumer countries, the world’s prime marketplace.
One of the economies being hit is Germany. For the past 3-years they have recorded steadily a declining export industry. CNN has reported that :
“German business confidence has hit a more than three-year low as manufacturers in Europe’s biggest economy are becoming increasingly pessimistic about their export prospects amid world market turbulence, a closely watched survey found Wednesday.
The Ifo survey found manufacturers are more reserved in regard to their export opportunities.
The Ifo institute said its business climate index fell to 92.9 points in September from 94.8 in August. The decline was steeper than economists’ predictions of a drop to 94.3.
The fall — the fourth in a row — put the index at its lowest level since May 2005, when it stood at 92.3.”
Will the USA economy share it’s economic woes with other European countries, the answer is a most likely “yes”.