Today’s news that durable goods orders jumped by 2.9 per cent in April, which was almost double the rate expected by economists, was the latest reminder that US exporters are among the stars of this recovery.
Coming out of the global recession, demand for big-ticket items including cars, aircraft, and heavy equipment with a long shelf life has been steadily picking up not only in the US, but also in many of America’s largest export markets. So to what extent will the eurozone crisis affect their competitiveness, as the dollar strengthens against the euro and US products become more pricey? Furthermore, to what extent will slower growth and fiscal retrenchment in the eurozone undermine demand for US goods? Read more