Global markets have been rebounding more quickly than the U.S., according to Adam Fein in the recent MDM Webcast, the 2010 Economic Forecast for Wholesale Distribution (order the full presentation/recording in the MDM Store). Fein cited an International Monetary Fund report, which showed that emerging and developing economies such as China and India "never went into a true recession."
"That has been a very significant driver for American manufacturers," Fein said. In the boom period, he said, exports were a big driver of growth, growing to more than 8.5% of the U.S. gross domestic product.
Though not good news overall, the dollar's decline is actually helping durable goods manufacturers right now; durable goods manufacturers are the primary exporters of goods from the U.S., and a weak dollar makes U.S. exports more attractive.
Here's an MDM article from 2007 when the U.S. dollar was also in decline; the article looks at the impact on U.S. importers, U.S. exporters, and Canadian distributors who buy from the U.S