Dollar's Slide May Boost U.S. Manufacturing, Helping Recovery
By Geraldine Ryerson-Cruz
quote.bloomberg.com
New York, June 7 (Bloomberg) -- A falling dollar means rising profits to Eric Krasnoff.
His company, Pall Corp., a maker of filtration and purification systems, gets half its revenue from sales abroad. The U.S. currency's four-month slide against the euro and yen boosts the value of those sales when the proceeds are converted into dollars.
The weaker dollar will be ``positive for our next fiscal year,'' said Krasnoff, chief executive officer of the East Hills, New York, company, which has a market value of $2.7 billion. That's a change from the past three years, when a surging U.S. currency shaved earnings by as much as 6.5 percent.
Caterpillar Inc., Ford Motor Co., International Paper Co. and many other U.S. manufacturers also stand to benefit from the currency's drop, analysts said. |
