Michigan sellers watch Europe's economic struggles

By: Associated Press Email
By: Associated Press Email

As the U.S. economy makes a steady if slow recovery from the Great Recession, Michigan businesses face challenges from the still-struggling economies of Europe.

The Detroit Free Press says Michigan's 20 largest companies got 22 percent of their revenues from Europe last year, and uncertainty about the future strength of that demand is creating difficulties for the state's exporters.

Ann Arbor-based exercise equipment maker NuStep says it's now looking to Asia for sales growth.

NuStep says its European sales rose 60 percent last year but are forecast to rise at half that pace in 2012.

General Motors Co. the state's biggest company and got 16.8 percent of sales from Europe in 2011. No. 2 Ford Motor Co. had 25.9 percent and No. 3 Dow Chemical Co. 34.7 percent.

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