Area Development News Desk (10/18/2007)
Exports of manufactured goods will buoy the U.S. economy as it faces
its slowest growth rate in five years, according to the National
Association of Manufacturers' October Economic Forecast. The report estimates that economic growth will decelerate
from 3.8 percent registered during the second quarter of 2007 to an
average annual rate of 2.6 percent over the next three quarters. The
weakest housing market in nearly two decades and slow consumer spending
are the basis for this downturn. "Exports remain strong and are
holding the economy above water," says NAM Chief Economist David
Huether. "The improving trade situation is the principal reason the
economy is weathering the housing downturn without sinking into
recession."
All contents copyright 2024 Halcyon Business Publications, Inc.