What did I hear at IEOC? Part 1
Every year around this time, the National Fluid Power Association hosts the Industry and Economic Outlook Conference - NFPA and IEOC. I attend this conference and I listen, make notes, try to understand the trends, and then share the information with my customers and my audience on this blog. Part 1. What did I hear from Alan Beaulieu - Well, Alan is a favorite speaker at this event because of his vast knowledge of economics, fluid power business, and the many markets served by fluid power technology. His message was mixed as he called the next 12 months a "period of uncertainty." Alan represents the Institute for Trends Research - ITR. The GDP is slowing down and we are on the backside of the ITR curve meaning that we are in a period of slowing growth leading to a period of negative growth. The good news is that Alan is predicting a brief downturn, a slight recession that was actually pushed forward by tax reform. The first half of 2020 should ha...