BDO says emerging economies following Europe downhill
Firm study finds emerging market weaknesses
Europe’s manufacturing sector has been hardest hit by the economic slowdown,
but emerging economies are now being affected, according to research by BDO Stoy
Hayward.
Emerging economy industries are now vulnerable, thwarting initial hopes that
economies such as China and India would ‘decouple’ from the recession hitting
developed countries.
UK growth is expected to fall 1.2% in 2009, but will be outstripped by a 4.6%
drop in Brazilian Gross Domestic Product, a 4.3% drop in Russia and a 1.8% slide
in China.