Commercial Printing Outlook — Tepid Vote of Confidence

Davis also points to exports as “having saved the economy” in 2007, but he expects that boom to slow in 2008. Fortunately, there should be a counterbalancing positive force as the country starts climbing out of the housing depression sometime next year, he adds.

Strength in the global economy and weakness in dollar exchange rates boosted exports. “It used to be that when the U.S. sneezed, the global markets caught a cold,” notes the PIA/GATF economist. “Now, the rest of the global economy can pick up the slack and keep us out of a recession by buying our exports.”