NAM says investment is critical to economic recovery
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Manufacturing News, Source : TheManufacturer.com
Published : 23 Jan 2003 22:07
Following the Federal Reserve’s latest report that leading economic indicators grew 0.1% in December, the National Association of Manufacturers says the key to a strong economic recovery is an increase in business investment.
“Today’s report shows that orders for non-defense capital goods rose in December, but this follows a see-saw pattern of ups and downs over the past several months,” said Jerry Jasinowski, president of the National Association of Manufacturers. “Investment is key.”
Though the 0.1% increase in the leading index is a deceleration from the 0.5% increase in November, it was the third consecutive monthly rise, and that offers much encouragement, said Jasinowski. “The leading index had dropped five months in row between May and September, and in the fourth quarter, GDP slowed substantially while manufacturing output declined 2.5%,” he said. “Today’s report that the leading index has risen three months in a row is the first solid indication I have seen that growth prospects are starting to turn a little brighter, and that chances of a double-dip recession are diminishing.”
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