The U.S. economy looks better able to withstand the hit from a stronger dollar and weaker global growth than the stock market did last week.
Foreign sales last year accounted for 46.3 percent of revenues for companies in the Standard & Poor’s 500 Index in 2013, leaving them prone to a rising greenback and the recent slowdowns in Europe and Asia, according to S&P Dow Jones Indices in New York. By contrast, U.S. exports compose just 13.5 percent of the economy.
“The U.S. economy is less open than the S&P revenue base,” said Jan Hatzius, chief economist at Goldman Sachs Group Inc. in New York. “There are good reasons to think growth will continue to be above trend.”
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