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Exports Keep Economy Out of Recession

June 16, 2008
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WASHINGTON, D.C., June 2-Exports have accounted for nearly half (46%) of the growth in the U.S. economy during the past year and are supported by a robust financing sector, according to panelists in a roundtable discussion hosted by the National Association of Manufacturers (NAM); its research, education and workforce affiliate, the Manufacturing Institute; and the Equipment Leasing and Financing Association (ELFA).

“U.S. exports have kept the economy out of recession during the most recent two quarters,” says NAM Chief Economist David Huether. “Capital goods exports-including automotive vehicles and parts-account for more than a third (34%) of total U.S. exports and nearly half (49%) of manufactured exports. These manufactured exports are the real bright spot in the U.S. economy and are supported by a robust financing sector. U.S. export growth will be a real shot in the arm for manufacturers in 2008.

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