The price of imports was down one-half percent overall, largely due to a 5.2 percent decrease in the cost of oil (which will likely be a short-lived trend as OPEC readjusts its production strategy) and the price of U.S. exports was up 0.4 percent overall, mostly because agricultural products are in demand now -- it is harvest season. Troubling is the 0.1 percent fall in the price of non-agricultural exports, because it is another indication that core U.S. value-added functions are facing falling prices globally. That means us, management and producing people. See the September 2003 press release from the Bureau of Labor Statistics.
Posted by Mitch Ratcliffe at October 9, 2003 09:00 AM | TrackBack