WKYT | Lexington, Kentucky | News

Economic Change Is Good News For Thoroughbred Industry

The U.S. economy is slowing, as the dollar gets weaker while the euro is gaining value. That means good news for some businesses, especially one that thrives in Kentucky.

With change in the value of the euro over the dollar, there's been significant impact in export goods in Kentucky, including the thoroughbred industry.

At the Keeneland September sales, there was a larger than usual European presence that's being attributed to the rise of the euro.

Keeneland authorities say 121 million dollars, almost half of the sales, were international. Of the over five thousand horses up for sale, a large portion were sold to Europeans.

While a strong euro benefits the thoroughbred industry, which in turn boosts the local economy, if the dollar continues to fall too fast, it could wreak havoc on the stock market which isn't good news for the economy.


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