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The small
$2.9 million monthly rise from the previous month brought
Connecticut’s sales abroad to $663.9 million in July, adjusted for
seasonal variation, according to official statistics.
Compared with last year, the latest reading in exports shows a
weakening in foreigners’ demand for Connecticut’s goods. In July of
this year, exporters shipped abroad $31.0 million, or 4.5 percent,
less goods than in July of 2003.
Manufacturers’ foreign shipments from Connecticut companies -which
accounted for 90 percent of all state exports - registered gains in
July. Exports of manufactured goods increased 1.3 percent from the
previous month to $596.8 million, adjusted for seasonal variation.
However, compared with July of last year, shipments abroad from state
factories were $31.6 million or 5 percent lower.
Exports of non-manufactured goods declined 6.4 percent to $67.0
million in July from June. This group of shipments abroad consists of
agricultural goods, mining products, and re-exports which are foreign
goods that entered the state as imports and are exported in
substantially the same condition as when imported.
At the national level, exports of goods, adjusted for seasonal
variation, advanced 4.3 percent in July to $64.7 billion from June,
mainly reflecting strong gains in shipments of autos and auto parts,
civilian aircraft and computers.
What’s the outlook for exports? According to a recent business survey,
conducted by the Institute of Supply Management, the nation’s supply
executives continue to be optimistic about the prospects of growing
export markets.
The Tempe, Arizona, based research institute reported that their
national index of new export orders continued to show growth in August
for the 21st consecutive month, although at a slower pace than in
July.
Of the 76 percent of respondents of the largest U.S. corporations who
sell products abroad, 19 percent reported greater incoming orders for
exporting goods, 72 percent reported no change and only 9 percent
reported smaller orders from July’s levels.
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