The overwhelming influence on the Tennessee Valley's economy for 2008 will be the national economy, and the national economy quickly deteriorated as 2007 came to an end. This relatively rosy scenario came to an end over the summer of 2007 as the problems with subprime mortgages spilled over into financial markets, with uncertainty as to size of losses and affected assets and with accompanying credit restrictions imposing restraints on economic growth. The Tennessee Valley's economy will generally follow that of the nation. Thus, growth of about 2 percent for the region's GDP is expected. In the middle of the year, manufacturing improved, helped by strong export orders. Metals, chemicals, and aerospace all did relatively well. With business investment holding up, capital equipment machinery also added to growth, especially given the prominence of Canadian, Japanese, and European competitors, all with currency values increasing versus the dollar.