Sentences with phrase «backdrop of a strong dollar»
WASHINGTON (Reuters)- New orders for U.S. factory goods recorded their biggest increase in eight months in March, boosted by demand for transportation equipment, but the underlying trend remained weak against the backdrop of a strong dollar.
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«The disappointing performance in export activity suggests that the loss of export competitiveness from the strong dollar and the weak global backdrop are becoming a net drag on U.S. economic activity,» said Millan Mulraine, deputy chief economist at TD Securities in New York.