Boeing will halt production on its bestselling jet next month. That's bad news for the American economy.
The aircraft manufacturer Tuesday announced its decision to stop building the 737 Max jet, which has been grounded worldwide since March following two fatal accidents within five months. The 737 Max is by far Boeing's most in-demand plane.And since Boeing is one of America's largest manufacturers as well as its No.1 exporter, the suspension of its biggest product could weigh on US GDP growth early next year.
Partly because Boeing did not want to cause problems for its supplier base, the company continued to build the 737 Max even during the grounding. Boeing has about 400 planes awaiting delivery. The company's sales are down because it doesn't get fully paid until planes are delivered, a negative for GDP growth. Yet at the same time, its inventories have been building, which is helpful for GDP growth.
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