Leasing Business Down Because Manufacturing is Down

According to the National Association of Manufacturers (NAM), a declining

base in the sector could cause the nation's economic growth to slow by 50

percent, which would in turn reduce living standards.

The group is concerned about a loss of research and development work performed at many factories because contributions to the country's growth from these

facilities affect the country's ability to grow. Moreover, the association

says that drops in employment and capital spending are further injuring the

sector despite indications that the economy is recovering.

The National Association of Manufacturing president Jerry Jasinowski says that the Bush administration needs to place more effort into protecting the sector from foreign competition until the economy recovers, especially forcing China to peg its currency to the U.S. dollar. It also appears the financial industry will be

expanding manufacturing interests in China as noted in recent press releases

of new affiliations and acceptance on the mainland.

Economist Joel Popkin notes in the National Association of Manufacturing

announcement/press release that the manufacturing sector's health is vital to the economy because it produces more jobs than any other sector.