According to a report released by the Manufacturers Alliance, current data reveal that the strong global economic growth of the last three years should continue, and become the strongest sustained period of growth in a generation. Consumer spending outside the United States may begin to play a greater role in global activity, boding well for the sustainability of solid world growth.
In the MAPI Quarterly Forecast of U.S. Exports, Global Growth, and the Dollar: Third Quarter 2006 Through Second Quarter 2008, global demand and a falling dollar are expected to stimulate U.S. export growth of 7.7% in 2006, an increase from 6.9% in 2005, and then accelerate to 9.4% during 2007.
Growth in the industrialized countries is anticipated to gradually strengthen from an estimated 3.2% in the second quarter of 2006 to 3.5% during the second half of 2006 as the U.K. and Eurozone economies improve.
Growth in the developing countries is expected to accelerate from 5.3% during the second quarter of 2006 to 5.5% in the second half of 2006. Growth is subsequently expected to slow to an average of 5.0% during the first half of 2007 and 4.8% in the second half of 2007 as Chinese and Indian growth slows.
