It isn't just the US, it's all of Europe as well. I own small business and about half my sales are to customers in Europe (in which I include the UK). Things have definitely slowed this year.
Things are slowing down everywhere. I haven't looked especially closely at India's numbers lately, but from what I have glimpsed here and there in the media, I get the impression they aren't doing terribly well either.
Not even the Great Depression of the 1930s produced an economic contraction this widespread, which means we're moving into uncharted territory, economically speaking.
And China. China has never been a big market for us, but we do have a vendor there for one of the few things that we can't get made here in USA at any price. We had a conversation as we were placing a new order with them recently and indeed, things are quite slow for them.
The world was less interconnected in the 1930s, and the speed of the connections that existed was far slower. However, the GFC of 2008 did spread around the world quite rapidly.
It isn't just the US, it's all of Europe as well. I own small business and about half my sales are to customers in Europe (in which I include the UK). Things have definitely slowed this year.
And China.
Things are slowing down everywhere. I haven't looked especially closely at India's numbers lately, but from what I have glimpsed here and there in the media, I get the impression they aren't doing terribly well either.
Not even the Great Depression of the 1930s produced an economic contraction this widespread, which means we're moving into uncharted territory, economically speaking.
And China. China has never been a big market for us, but we do have a vendor there for one of the few things that we can't get made here in USA at any price. We had a conversation as we were placing a new order with them recently and indeed, things are quite slow for them.
The world was less interconnected in the 1930s, and the speed of the connections that existed was far slower. However, the GFC of 2008 did spread around the world quite rapidly.
True. The GFC was more widespread but the Great Depression was deeper.
And I have a feeling this contraction is going to be very deep