Tell Me a Country Whose Economy Will Not Slow in 2013?
From Profit Confidential January 9, 2013 - 12:08pm
In December, retail sales in the eurozone plummeted. The retail Purchasing Managers’ Index (PMI) fell to 44.5 from 45.8 in November. The reason: Germany, France, and Italy reported retail sales declining at an accelerated pace.
Retail sales in the eurozone have been declining for 19 months straight! (Source: Markit, December 28, 2012) A PMI reading below 50 suggests economic contraction.
China, another economic hub in the global economy, has its problems, too. The country has been experiencing an economic slowdown, which is affecting its trading partners like Australia.
According to the United Nations, Australia lost $2.4 billion in gross domestic product (GDP) and $2.6 billion in exports since 2011—thanks to an economic slowdown in the Chinese economy. (Source: The Age, December 17, 2012.) And as the Australian dollar has been gaining strength, it is bruising the tourism, manufactur...
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