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We expect there to be a significant consumer slowdown driven by the capital markets.
"When I go to places like India and China," he added, "there's cranes everywhere and you just don't see the kind of slowdown driven by the U.S. consumer.
The slowdown, driven by a sharp fall in energy prices, means inflation in the eurozone is now at its lowest level since February 2010.
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But worries about a recent sales slowdown drove its shares down $2.28, or 7.1percentto to $29.66.
Aug 21 (Reuters) - Fears of a China-led global economic slowdown drove Wall Street to its steepest one-day drop in nearly four years on Friday and left the Dow industrials more than 10percentt below a May record.
The economic slowdown has driven migrant workers home, increasing populations in affected areas.
Fears of an emerging market crisis and a global slowdown have driven Japan's stock market down into Correction territory, as investors begin the week in nervous mood.
Even so, unlike the drop in 2009 after the financial crisis, the latest slowdown is driven by internal factors.The Kremlin cannot just wait for a global upturn and no obvious fixes are to hand at home.
In this year's bargaining, management asked for new efficiencies on the dock, the ILWU resisted the demand, and when negotiations stalled, the union began a massive slowdown (ostensibly driven by safety concerns) that triggered a PMA lockout.
This year's first-quarter slowdown was driven by declines in business investment, exports and federal government spending, the Commerce Department said.
The slowdown was also driven by weaker hiring at medium and larger companies.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com