Tuesday, June 5, 2012

Depending on Europe

The European crisis has still not reached any sort of resolution, with Greece still teetering on the brink of exiting the Euro. At least 12 European nations have officially entered recession again, which is defined as having the overall economy contract for at least two quarters.The fear, of course, is that Europe's woes will tip our own economy back into recession.

The American industry that may be most affected by the problems in Europe, surprisingly enough, is the energy sector. According to Deutsche Bank, the energy companies in the S&P 500 derive 29.2 percent of their revenue from Europe. Here are the percentage of revenues from Europe for some other industries:

* Technology: 27.8 percent
* Utilities: 0.9 percent
* Telecommunications: 0.0 percent

Overall, the companies in the S&P 500 get 17.5 percent of their revenues from Europe.

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