By Dr. Chris Kuehl, Economic Analyst, Fabricators & Manufacturers Association, International, Rockford, IL & Managing Partner, Armada Corporate Intelligence, Kansas City, MO
For the past several months the one bright spot for the U.S. economy has been the export sector. New records have been set in exporting every month for over two years now and the U.S. has even managed to make some inroads on its trade deficit. The reason for all this activity has been pretty obvious — a weaker dollar.
This weak dollar has meant that virtually all U.S. goods are being sold overseas at a 30 percent discount. This has helped U.S. manufacturers get past high tariff barriers, consumer resistance and competition to build volume in foreign sales...