Friday, October 31, 2014

Economic Update

I had the privilege of attending the quarterly update of the NFPA Economic Update webinar recently. There are always many key takeaways from these sessions.  This time, I can summarize my takeaway by saying "Growth through 2016."

This is not different from what I heard at the 2014 Industry and Economic Outlook Conference put on by the NFPA in August.  I remain very optimistic by this report.  Despite a slower global economy, some sluggish growth forecasts, declining oil prices, and other concerns, it appears that the U.S. industrial economy is still bound for strength in 2015.


I understand that economic forecasts are subject to change considering all that is going on  in the world.  However, the data shows strength for next year.  The webinar shows that NFPA shipments are trending upward as is U.S. Industrial Production.  Even the mining and agricultural machinery markets could have some strength next year.

All of this bodes well for fluid power component manufacturers.


 


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