NAM’s chief economist, David Huether, was on CNBC Friday in a report on the manufacturing economy, reacting to an interview with Jim Owens, CEO of Caterpillar. Also in the segment, Brian Rayle of FTN Research. The 4-minute video is here. And more from David in the AP story:
Nearly half of the manufacturing industry’s 73 subsectors were expanding through February, according to the National Association of Manufacturers. Manufacturing output rose 1.8 percent in 2007 and is forecast to climb to 1.5 percent in 2008 as continued export strength cushions the blow of slumping home and automobile sales, said David Huether, NAM’s chief economist.
Construction machinery makers like Terex Corp. are straining to keep up with foreign demand for equipment used on infrastructure development projects. Also thriving are food processors, oil refineries, electronics makers and others, Huether said.
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