RAC Sales in Southern Europe Decline
2008-07-17
Despite Europe’s sound economic fundamentals, the strong headwinds, which include persistent uncertainties about the duration and the ultimate cost of the world credit turmoil, surging commodity prices, a weakening U.S. economy, a downturn in business indexes originating from the subprime loan issue in the US and an increasing rate of unemployment, have begun to take a toll on the EU’s economy.