The mighty dollar drops

Manufacturing News, Source : TheManufacturer.com
Published : 16 Jul 2002 21:12

The overachieving US dollar has finally fallen to parity with the Euro, bringing relief for the nation’s manufacturers.

According to an official from the National Association of Manufacturers, the falling value of the US dollar is a good start to recovery in the manufacturing sector.

Ailing manufacturers stand to gain a long-awaited advantage with the deflation, as their exports will now be able to match competitors’ prices, stimulating production and boosting inventory.

Economists believe the dollar has fallen due to a decline in US stocks and the recent corporate accounting scandals.

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