Moody’s: US economic growth gives Europe a much bigger boost than to China

By: Trademagazin editor Date: 2021. 09. 23. 11:02

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The recovery in the European economy is expected to be given a much stronger impetus than the Chinese economy for several reasons, according to a study presented by Moody’s Investors Service in London on Tuesday.

US growth could boost US economy

The international credit rating agency said that the acceleration of US economic growth will therefore have positive effects on debt quality among European commercial and sovereign debtors.

Jorge R. Valez, vice president of Moody’s, the author of the study, highlighted in his presentation of the analysis that using the six largest European economies – Germany, the United Kingdom, France, Italy, Spain and the Netherlands – as a test sample, the company’s model calculations show that the U.S. a sustained 1 percent increase in the value of gross domestic product (GDP) adds 0.8 percent to the GDP produced by European economies. (Kertész Róbert, MTI)