 | |  | | Manufacturers warn of risk to U.S. economy-report
Tue June 10, 2003 02:09 AM ET
NEW YORK, June 10 (Reuters) - A leading group of U.S. manufacturers will release a study on Tuesday warning that a further decline in the manufacturing sector could halve U.S. economic growth and push lower standards of living, the Wall Street Journal reported on Tuesday.
The National Association of Manufacturers, representing 14,000 U.S. manufacturers, will report on a study conducted for the group on growth rates in 40 countries, the Journal reported.
"The result suggests that economies with no economic growth in manufacturing would experience economic growth of less than 1.5 percent a year," the study's author, Joel Popkin, told the Journal.
The report comes at a time when U.S. manufacturers are urging the administration of President George W. Bush to support a weaker dollar as a means of improving their competitiveness.
Last week, Dallas Federal Reserve President Robert McTeer said China might need to reevaluate its effective peg of the yuan against the dollar as it grows in importance as a trading nation.
(Additional reporting by John Mair in Singapore) |  |  |  |  |
|