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Will the Dollar's Decline Help Ohio Manufacturers?

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A sharp drop in the value of the dollar since February 1985 has created hopes that there will be an increase in net exports that will fuel economic gains both in Ohio and the nation. The decline in the dollar has come at a time of sluggish growth in the national economy, which has been in a period of recovery since November 1982. This period featured record employment increases in the U.S. between 1983 and mid-1984. Ohio's growth throughout the recovery, however, has been below the national average, leaving industries in the state particularly anxious for an economic stimulant. Many hope that the decline in the dollar may be that stimulant.

A sharp drop in the value of the dollar since February 1985 has created hopes that there will be an increase in net exports that will fuel economic gains both in Ohio and the nation.

The decline in the dollar has come at a time of sluggish growth in the national economy, which has been in a period of recovery since November 1982. This period featured record employment increases in the U.S. between 1983 and mid-1984. Ohio's growth throughout the recovery, however, has been below the national average, leaving industries in the state particularly anxious for an economic stimulant. Many hope that the decline in the dollar may be that stimulant.


Suggested citation: Currell, Amy, Philip Israilevich, and K.J. Kowalewski, 1986. "Will the Dollar's Decline Help Ohio Manufacturers?" Federal Reserve Bank of Cleveland, Economic Commentary, 08.15.1986.

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