Analysts at Citigroup say that Christmas will be good this year for luxury-goods firms, but they are more cautious about next year because of worries about falling demand in America.

花旗的分析师们认为，对奢侈品公司来说，今年的圣诞节应该很不错；但是他们对明年的预测却很谨慎，因为担心美国的需求下滑。

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The unemployment rates in many European countries are below America's, but that may be because their more rigid Labour markets adjust more slowly to falling demand.

许多欧洲国家的失业率都不及美国，但那可能是因为欧洲国家的劳动力市场较为迟钝，对劳动力需求下降的反应较慢。

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But rents on luxury homes there are falling, suggesting that prices are supported more by speculation than real demand.

但豪华房屋的租金却在下降，显示房价主要是受投机性买盘而非实际需求所推动。

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But falling demand, including reduced demand for oil, has cut trade around the world.

VOA: special.2009.01.16

But falling European demand means falling Brent oil prices, which in turn means cheap Russian-based Urals Mountain oil prices that already trade at a discount to Brent.

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In the past few months, German exporters have still managed to sell their goods in Asia and the US, but they are being hit by falling demand in countries like Spain.

BBC: Eurozone: What goes around comes around

Personal computer maker Hewlett-Packard may be trying to branch out into software and services, but it still has to contend with falling PC prices, weak demand and fierce competition in the legacy business that still dominates its profits and revenues.

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