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Weak Economies Abroad Put Lid On Benefits Of A Weaker Dollar Exports still in decline; meanwhile, oil imports boost U.S. trade deficit.(A)
Byline: CHRISTINA WISE
Of all the yardsticks, the dollar may best reflect the U.S. economy and the world's perception of it.
Over the last year, as the recovery has sputtered, and geopolitical tension and the U.S. trade deficit have risen, the dollar has staged a steady retreat.
Through Monday, the dollar was down 17% on a trade-weighted basis from its January 2002 peak. Against the euro, it was off 21%.
So what does that mean for the spotty U.S. recovery?
It depends on which part of the economy you look at. For U.S. retailers, it means higher prices for imported goods, and stores may not be able to pass the price hikes on. It also makes it more costly for U.S. firms to expand overseas or for U.S. citizens to travel abroad.
The falling dollar's biggest impact may be on struggling U.S. factories, especially exporters.
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