News
Weak dollar brings boost to US economy
Thursday 29 May 2008
The latest US export figures indicate the weak dollar could be strengthening the economy as Bloomberg reported yesterday (May 28th) that orders for durable goods rose in April.
Figures released by the US Commerce Department showed that exports of goods designed to last up to two years (excluding transportation orders) rose by 2.5 per cent last month.
Speaking on Bloomberg Radio, Anthony Chan, chief economist at JPMorgan Private Client Services Group, said: "Here we really see that the effects of a weaker dollar are in fact giving us a lot more juice in this economy than we had expected.''
Exports of electrical equipment went up to a record 28 per cent in April and orders of non-defence capital goods (not including aircraft) rose to 4.2 per cent, which was the biggest increase this year.
Kenneth Broux, a London-based economist at Lloyds TSB group, reported to Reuters: "Manufacturing is certainly defying the more pessimistic view out there.''
A weak dollar and a decline in property prices are also making the US a more attractive prospect for property investors seeking a bargain.
Figures released by the US Commerce Department showed that exports of goods designed to last up to two years (excluding transportation orders) rose by 2.5 per cent last month.
Speaking on Bloomberg Radio, Anthony Chan, chief economist at JPMorgan Private Client Services Group, said: "Here we really see that the effects of a weaker dollar are in fact giving us a lot more juice in this economy than we had expected.''
Exports of electrical equipment went up to a record 28 per cent in April and orders of non-defence capital goods (not including aircraft) rose to 4.2 per cent, which was the biggest increase this year.
Kenneth Broux, a London-based economist at Lloyds TSB group, reported to Reuters: "Manufacturing is certainly defying the more pessimistic view out there.''
A weak dollar and a decline in property prices are also making the US a more attractive prospect for property investors seeking a bargain.
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