PMMI Reports Economy in Mild Recovery
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U.S. packaging machinery shipments show a strong cyclical identity to non-defense capital goods new orders, which is transitioning into Phase A, recovery. This suggests that U.S. packaging machinery shipments will see improving economic conditions in 2010.
U.S. packaging machinery exports have a clear inverse relationship to the strength of the dollar. Recent financial problems in certain European countries have given the dollar a boost against the Euro. We expect the dollar strengthening trend to continue in 2010. While a strengthening dollar is not favorable news for packaging machinery exports, the economic recovery taking place in many overseas markets should help compensate for some export losses caused by dollar appreciation.
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