The Federal Reserve today severely lowered its forecasts for economic growth in the US for 2008. The Fed now expects the economy to grow between 0.3% and 1.2% this year. Last February the Fed was expecting a growth between 1.3% and 2% for the whole of the year.
The main trading partner of the United States is the European Union. Lower growth in the US means less American imports from Europe and lower growth for Europe as well. The direct impact of lower US growth will be felt more stongly in some European countries than others. Among the most affected are Ireland which sells to the US almost 20% of its total exports and the United Kingdom (15%). The direct effect will be small in Portugal which sends to the US only 4% of its total exports. Portugal will get the impactt indirectly, though, via lowered growth in the European Union, as 80% of all Portuguese exports have the EU as destination.
Meanwhile, the price of oil reached today US$133 per barrel for the first time in history.
The main trading partner of the United States is the European Union. Lower growth in the US means less American imports from Europe and lower growth for Europe as well. The direct impact of lower US growth will be felt more stongly in some European countries than others. Among the most affected are Ireland which sells to the US almost 20% of its total exports and the United Kingdom (15%). The direct effect will be small in Portugal which sends to the US only 4% of its total exports. Portugal will get the impactt indirectly, though, via lowered growth in the European Union, as 80% of all Portuguese exports have the EU as destination.
Meanwhile, the price of oil reached today US$133 per barrel for the first time in history.
Sem comentários:
Enviar um comentário