Global Economies Plummet

Wow, some amazing numbers out of America’s biggest trading partners: Mexico fell 21.5%, Japan reported its economy contracted 15.2% (annualized) in Q1, while Germany’s Q1 fell at an annualized 14.4%. Most of this data is the worst since 1970.

And, its not too hard to guess why, according tot he front page of the WSJ:

“All three countries depend on exports to the U.S. But they have nose-dived as U.S. consumers cut back purchases of autos, electronics and other goods mass produced abroad. For the first three months of 2009, U.S. merchandise imports declined about 30% to $352.5 billion compared with the same period a year earlier. Mexico’s ties to the U.S. are particularly strong because of the North American Free Trade Agreement, and Mexican auto production in the first quarter fell 41% from the year before.”

Not quite green shoots . . .

>

Source:
World Economies Plummet
BOB DAVIS
WSJ, May 21, 2009
http://online.wsj.com/article/SB124286297167741263.html

Print Friendly, PDF & Email

What's been said:

Discussions found on the web:

Posted Under

Uncategorized