U.S – Companies reporting on second-quarter earnings say they are benefiting from growing demand for goods and services by foreign buyers, the WSJ’s Ben Eisen reports, along with expectations for faster global growth with continued low inflation.
The dollar edged up on Thursday, but one measure of the dollar against other big currencies shows its value off about 8.6% this year to its lowest level in 13 months. CSX Corp. executive Fredrik Eliasson said the weaker dollar is helping drive some of the resurgent growth in the company’s coal volumes, with more loads heading into export channels.
CSX expects to see more outbound flows as the weaker dollar affects more global purchasing decisions. Export volumes at major U.S. ports overall were relatively tepid in June, according to researchers at Panjiva.
But South Carolina’s Port of Charleston says growth in its outbound volumes has been accelerating and jumped 12.9% in June.