The manufacturing
business in the Euro
Area, Japan, United
States had declined in
the last year.
“Manufacturing has
fallen off the cliff, and it’s
certainly the biggest
decline since the
Second World War” said
Dirk Schumacher, senior
European economist.
“Manufacturing makes up about twothirds of U.S. exports, and contributed
more to G.D.P. growth over the last 20
years than any other sector of the U.S.
economy,” said David Huether, chief
economist from the National
Association of Manufacturers.
Manufacturing equals about 14% of GDP in
the United States, it totals 18%worldwide,
and accounts for 33% of the GDP in China,
according to the World Bank.
The sudden reversal in global
manufacturing suggests the Americans
should not expect economic relief from
abroad soon, despite a slightly more
optimistic mood on Wall Street lately
and President Obama’s call for more
stimulus spending by foreign
Related flashcards

17 Cards


17 Cards

Marxist theory

25 Cards

Create flashcards