While there have been well-documented and well-founded areas with problems, namely Greece and Spain, as well as an impact on trading partners throughout the globe, there are some European nations still doing well or at least better than before.
Statistics indicate the German economy is back in a growth pattern, albeit at a lackluster 0.3%, after a few signs of weakness. There also are several EU members and nearby neighbors who have managed the crisis well enough to avoid recession and deserve note, NACM Economist Chris Kuehl, PhD, noted.
“The Swedes are also displaying significant economic progress based on solid export activity and a domestic economic surge that stems from the lowered tax burden. Poland continues to prosper with its own burgeoning internal economy and continues to benefit from being the buffer between the Russians and those that want to do business there without getting too close. Even the Irish are starting to make some progress on their own financial mess and now appear to have returned to being just poor, not poor and in distress.”
- Brian Shappell, CBA, NACM staff writer
(Note: More including the downside and reliance on Germany in this week's eNews, available Thursday afternoon at www.nacm.org).