Cheaper U.S. Dollar, Higher Exports, But Not For Everyone

ByJohn S. McClenahen The Institute for Supply Management's (ISM) new export orders index for manufacturing hit 60% in December 2004, up a substantial 5.3 percentage points from November's 54.7%. Credit a (relatively) cheaper U.S. dollar for at least some of the gain. ISM's December data show export orders growing in 12 industries, including primary metals, furniture, chemicals, computers, and electronic components. But apparently not all companies are experiencing much of a dollar-related export increase. For example, while 43% of people taking part in IW's current Quick Poll, a Web-based unscientific sampling, say their companies' exports are up at least 3%, some 25% report no increase. Another 28% say their companies do not export from the U.S.