As we enter the fourth month of 2013, we’ve already seen many changes in what we believed to be true late in 2012.
Europe has fallen deeper into recession, as they’ve experienced three consecutive quarters of negative economic growth. Europe tried an austerity program to get themselves out of the recession. Though austerity may reduce debt, in the short-term, it fails to move the economy forward. Instead of ushering in prosperity, attempts to slash deficits and debt have actually caused more debt by depressing economic growth.
As Europe continues to struggle with its third consecutive quarter in decline in gross domestic product, America can’t escape the impact. General Motors, for example, is selling less cars across the pond and other companies are having difficulty shipping goods overseas due to reduced demand in Europe.
Written by Brent Parsegian. To read the full article, click here. Premier Business Network™ provides Guaranteed Benefits for Small Businesses™. Feel free to join the conversation about small business benefits at #pbnbenefits. For more small business tips or to become a member, visit our website at www.premierbusinessnetwork.com, and follow us everywhere @pbnbenefits.