Weak Dollar Fuels U.S. Exports
By Splatty • Oct 9th, 2007 • Category: Misc Logistics
I guess there is one benefit of a weak U.S. dollar; an increase in U.S. exports.
Via International Herald Tribune:
“The dollar is in a quasi-sweet spot,” said Joseph Quinlan, chief market strategist at Bank of America in Charlotte, North Carolina. “It’s dropped enough that it’s creating an earnings upside for U.S. multinationals, while I expect many foreign companies to hold the line on prices they charge U.S. consumers.”
Exports by General Motors, Boeing and other U.S. companies were up 11 percent in the second quarter from a year earlier, shrinking the U.S. trade deficit in goods for the first half by $14 billion, to $405 billion and helping the economy weather the housing bust.
The Port of Long Beach increased exports by 34 percent in August 2007 compared to the same period last year. If the dollar continues it’s recent slide, will it bring manufacturing jobs back to the U.S.? I doubt it…
Stumble it!
Related Posts:
Splatty is
Email this author | All posts by Splatty
