Europe’s tired engine
As the euro zone goes into another recession, Germany is slowing down
AFTER a promising May and June, Steffen Knoop has seen his sales dip by 30%. His small Hamburg-based company, Wascut, sells cooling and cleaning oils for big machines, including those that make cars. “I have a pretty good window on the economy,” he says. Mr Knoop wonders whether the dip is caused by people taking extra long summer holidays or something more serious. Others with a broader and more long-term view of the economic landscape are asking the same question.
This article appeared in the Europe section of the print edition under the headline "Europe’s tired engine"
From the August 18th 2012 edition
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