ThomasNet News Logo
Sign Up | Log In | ThomasNet Home | Promote Your Business

World Energy Market Fluctuations impact US economy.

Print | 
Email |  Comment   Share  
December 19, 2007 - Following Labor Department report that consumer prices increased 0.8% in November, NAM's Chief Economist, David Huether reiterated need for energy bill that increases access to domestic supplies. Inflationary factors will likely have dampening effect on consumer spending this quarter, another sign that economy is slowing. Data also reinforced NAM's belief that affordable and reliable domestic energy supply is essential to long-term health of U.S. economy.

Fluctuations in World Energy Market have Significant Impact on U.S. Economy

(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)

National Association Of Manufacturers (NAM)
1331 Pennsylvania Ave. N.W.
Washington, DC, 20004

Press release date: December 14, 2007

WASHINGTON, D.C., December 14, 2007 - Following today's Labor Department report that consumer prices increased 0.8 percent in November the National Association of Manufacturers' Chief Economist David Huether issued the following statement, reiterating the need for an energy bill that increases access to domestic supplies:

Today's report testifies to the fact that fluctuations in the world energy market can have a significant impact on the U.S. economy - the rise in consumer prices is largely the result of the surging cost of energy. These inflationary factors will likely have a dampening effect on consumer spending this quarter, another sign that the economy is slowing.

The data also reinforce the NAM's belief that an affordable and reliable domestic energy supply is essential to the long-term health of the U.S. economy. Next year, Congress should focus on legislation to increase energy supply in order to reduce costs for American consumers.

Outside of energy, prices rose a much milder 0.3 percent, which is only slightly faster than increases during the prior six months.

I do not believe that core inflationary pressures are a significant concern at this point, which should give the Federal Reserve room to make additional rate cuts in the New Year.

The National Association of Manufacturers is the nation's largest industrial trade association, representing small and large manufacturers in every industrial sector and in all 50 states. Headquartered in Washington, D.C., the NAM has 11 additional offices across the country.

CONTACT: J.P. FIELDER (202) 637-3089
Print | 
Email |  Comment   Share  
Contacts: View detailed contact information.


Post a comment about this story

(your e-mail address will not be posted)
Comment title:
To submit comment, enter the security code shown below and press 'Post Comment'.

 See related product stories
More .....
 See more product news in:
| Featured Manufacturing Jobs
 Other News from this company:
NACD and Associquim Sign Memorandum of Understanding
Good News on ACA Implementation - Kind of
Participate in Manufacturing Day - Mark Your Calendars for October 4!
Business Group Praises Bipartisan Introduction of Bill Preventing Costly and Unnecessary Regulation of Main Street Risk Management
Manufacturers Win in Fight Against NLRB Overreach
More ....
 Tools for you
Watch Company 
View Company Profile
Company web site
More news from this company
E-mail this story to a friend
Save Story
Search for suppliers of
Trade Associations

Home  |  My ThomasNet News®  |  Industry Market Trends®  |  Submit Release  |  Advertise  |  Contact News  |  About Us
Brought to you by        Browse ThomasNet Directory

Copyright © 2014 Thomas Publishing Company. All Rights Reserved.
Terms of Use - Privacy Policy

Error close

Please enter a valid email address