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In the real economy, there are diverse economic ties that manifest in trade of goods and services. One such example is the trade connections in the auto industry between Japan and the United States. The earthquake that struck Japan on March 11, 2011 had a major impact on the U.S. car industry because it stalled production lines and the importation of spare parts, and diminished the imports of cars from Japan to the U.S.

Following the rise in the price of cars, car sales dropped, which led to a reduction in Personal Consumption Expenditure (PCE), and hence in the performance of the U.S. economy as a whole.