The increase – and dangers – of unemployment everywhere
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With Germany’s economy projected to contract by up to three percent next year, a new survey shows that “German consumer confidence remains weak amid production cutbacks and fears of unemployment….” In Germany, “shoppers are turning gloomier as the downturn in Europe’s biggest economy continues….Until recently, Germany had been able to depend on its traditionally strong export sector to offset any downturn in domestic demand. However, exporters have been hard hit by falling demand worldwide, which has left businesses now more dependent upon Germany’s own consumers for sales.” (BBC)
admin @ December 22, 2008