Europe's debt crisis might have pushed its economy into a far steeper contraction than anyone thought and growth in China is sputtering, according to surveys that point to a sharp global slowdown taking place.
Even though there are fresh signs the US economy is perking up, business surveys on Monday were mainly downbeat and confirmed the economic toll of the euro zone's sovereign debt crisis.
They come at the start of a week that could prove crucial in resolving a debt crisis which threatens to tear apart Europe's common currency area, something that would have catastrophic implications for the global economy.
For more: Euro zone and China signal sharp global slowdown - The Economic Times
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