The slowdown in Europe has been a greater drag on the US economy than the softening in China. With the euro-zone on the cusp of a deep recession, this trend will only become more pronounced. The direct hit to US GDP growth may be fairly small. Nonetheless, the indirect effects from a further increase in uncertainty and fall in confidence could be larger.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.