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March new orders for U.S. manufacturers jumped by 3%, substantially exceeding expectations for a 2% gain. As this chart shows, new orders have surged at a 25% annualized rate since last October, and are closing in on their previous highs. The economic recovery continues, and it looks like it's picking up speed, at least in some sectors of the economy.
3 comments:
I wonder if we are entering a new and generally positive paradigm for the US economy. Strong exports based on an exchange rate range that enhances two-way trade.
I think the "strong" dollar regime reflected the interests of USA multi-nationals who wanted to establish overseas operations and import to the USA. But now, multi-nationals are truly multi-nationals, so the push for a strong dollar may have been diluted.
Certainly, the boom in exports can't be dismissed. This may usher in a new and more-prosperous era for US manufacturing.
...to pay for all their wives and kids!
If the great production/ manufacturing engine of the USA can't make a go of it in a zero interest rate environment - and a heavily discounted currency - then it's all over!
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