The impact of the European crisis also effect the Unites state because the Europe are the most important trading partner of USA . Effect of the European crisis also effect the U.S companies and their profit is decreasing that leads to the slow economioce growth of USA . About 14% of the revenue of the biggest U.S companies come from the Europe .If the European economic fall into downturn that will effect thus US in various ways.
consequences have been limited so far. Yet the United States and Europe are so closely linked that any slowdown across the Atlantic is felt here. U.S. makers of cars, solar panels, drugs, clothes and computer equipment have all reported effects from Europe's turmoil.
Worries that Europe's crisis could worsen and spread are spooking investors and consumers just as the holiday shopping season nears. Some fear U.S. consumers could rein in spending. Europe's sputtering growth is already dragging on some U.S. companies' profits and could further slow the U.S. economy.
The European Union is the No. 1 U.S. trading partner. Nearly $475 billion in goods crossed between the regions in the first nine months of 2011. About 14% of revenue for the 500 biggest U.S. companies — roughly $1.3 trillion — comes from Europe.
The U.S. economy is especially vulnerable to the European crisis because it's growing so weakly and facing other risks, such as weak hiring, stagnant pay, high energy costs, a wide trade deficit and potentially steep government spending cuts.
"It won't take much to tip us into another recession," said Sung Won Sohn, an economics professor at California State University, Channel Islands. "If Europe gets into any deeper trouble, it will take us and the rest of the world down, too."
The European Union said last week that the region could slip into a "deep and prolonged recession" next year. The Eurozone is expected to grow just 0.5% in 2012. That's far below the 1.8% growth predicted in the spring.
Wells Fargo estimates that the...