By MARTIN CRUTSINGER
AP Economics Writer
WASHINGTON – A sign that Europe’s crisis has begun to weigh on the U.S. economy emerged Friday from a report that exports to the continent sank in November – far more than overall U.S. exports did.
Europe, which consumes nearly one-fifth of America’s exports, may already be in a recession. A weakening Europe could further shrink demand for American goods and slow the U.S. economy just as the job market has started to strengthen.
“The decline in our sales to Europe was fairly large and may be the start of a longer-term trend in declining exports to the continent,” said Joel Naroff, chief economist at Naroff Economic Advisors.