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Archive for January, 2008

The U.S Dollar and Spring Manufacturing

Tuesday, January 8th, 2008

Many spring manufacturers are concerned about the economy especially as it pertains to spring manufacturing.

The US dollar is not what is used to be. In the 80’s the pound was selling at $1.03. Today it takes more than 2 dollars to buy a pound. The euro, which hit a valuation of $.82 in summer of 2002 is now selling for more than $1.45.

The Treasury for International Affairs predicts that we are likely to see a further 20 percent devaluation in the dollar before the current trend is reversed.

What does all of this mean for spring manufacturers and manufacturers in general?

Growth in exports continues with European Union and with Canada, the US’s largest trading partner. The US continues to have a bilateral trade deficit with China which will likely be $250 billion this year. This trade deficit is unsustainable unless legislation is passed, which is unlikely to happen over the President’s certain veto.

For now it’s something for US spring manufacturers to monitor and be aware of – at the same time putting emphasizes on promoting domestic spring business.


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