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Europe’s Woes Drag on U.S. Recovery (The Hill)

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Things have been looking up for the U.S. economy in recent weeks, but some are wondering how long can it continue to gain ground in the shadow of Europe’s debt crisis. At the end of October, the Commerce Department reported that the economy grew by 2.5 percent in the third quarter of the year, a substantial leap from Q2′s 1.3 percent growth. Yet, the Dow Jones Industrial Average fell by 2 percent last month, reflecting a continued hesitance on the part of investors and entrepreneurs. Is this market weakness directly tied to the euro? Experts suggest that concerns about Europe’s effect on the global economy are absolutely real to American investors. “You’d actually be seeing stronger economic growth right now if it wasn’t for what was happening in Europe,” said Andrew Busch of BMO Capital Markets.