GLOBAL ECONOMY WEEKAHEAD-China, US withstand Europe's turmoil |
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November 7th, 2011
WASHINGTON, Nov 7 (Reuters) - Europe is the largest trading partner for the United States and for China, and its financial system is deeply interwoven with world finance. Until euro-zone leaders draw a line under their debt crisis, risks of upheaval spreading through the global economy will remain high. So far, the United States and China have shown a welcome resilience to turmoil from Europe, revealing a disconnect between sentiment and what is happening in the real economy.
WASHINGTON, Nov 7 (Reuters) - Europe is the largest trading partner for the United States and for China, and its financial system is deeply interwoven with world finance. Until euro-zone leaders draw a line under their debt crisis, risks of upheaval spreading through the global economy will remain high.
So far, the United States and China have shown a welcome resilience to turmoil from Europe, revealing a disconnect between sentiment and what is happening in the real economy.
The United States has seen a slow but steady improvement in its labor market. It has added 367,000 jobs in the private sector over the last three months, a slightly faster pace than the 301,000 gain in the May-July period and enough to lower the unemployment rate a notch to 9 percent, a six-month low.
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