Michael Ference Fluid Power Marketing

One of the really nice features of the IEOC format is that breakouts are organized by specific markets and presented by segment experts.  The good news is that all of the presentations are very informative.  The only inconvenience is that I can only be at one session at a time,  The slides, however are available to all attendees so we can review the sessions that we missed. Scott Hazelton of IHS Markit gave a presentation titled Industry Markets Overview .  Since the three main segments of the fluid power industry are industrial hydraulics, mobile hydraulics, and pneumatics, this presentation is a pretty significant part of the conference. Here are my notes.  There will be a 0.3% growth in the industrial sector for 2019 and a 1% growth for 2020.  This would still allow for a dip in the first half and a pick up in the second half of 2020 with a net gain of 1%.   Natural gas prices will be down 16% in 2019 and down 7% in 2020.  The PMI ...

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...

Earlier this week, I had the privilege of attending the NFPA Industry and Economic Outlook Conference.  It started out with a fantastic golf outing where I got partnered with some really great folks.  We didn't win but we had a blast. Then we got down to the business of the economy and fluid power. The event was held at the Oak Brook Hills Resort and Conference Center in Oak Brook, IL and the NFPA and the Resort did a great job of hosting! I will be writing more entries about the event but I wanted to hurry up and summarize my takeaway in a few words.  The consensus from the economists who presented is this:  There could/will be a slow down in the economy in the second half of 2019 and it may have already started. It will be short and sweet and by the second half of 2020, things will be better.  To all of my advertisers, please plan for the upswing.  Stay ahead of the pack by advertising right through the slow down and you will be in a bett...

The annual Industry and Economic Outlook Conference operated but the National Fluid Power Association takes place this week at the Westin North Shore in Wheeling, IL.  The NFPA Education Foundation golf outing takes place this afternoon to actually kickoff the event. The outing is followed by a reception today just to get attendees in the mood for two days of networking and presentation.  The Westin North Shore is a perfect location for the event and has been most accommodating for many years. The presentations begin on Tuesday with opening remarks followed by IEOC favorite, Alan Beaulieu of the Institute for Trends Research.  His presentation is titled U.S. Market Outlook and its Effect on World Economies. As always, the IEOC promises to be a benchmark event for the entire year.  I find myself quoting what I learn at the IEOC again and again.  For more information visit the NFPA website

The first and best choice for economic information involving the fluid power industry is the Industry & Economic Outlook Conference (IEOC) presented by the National Fluid Power Association.  We have a post on our Mobile Hydraulic Tips website about the event. I often quote the information that I learn at the Conference when asked "So what do you hear about the economy?"  No forecasting is perfect but the format at IEOC allows for many great view points about what lies ahead and why. For more information about the upcoming event, visit the NFPA website .  The Conference will take place at the familiar Westin Chicago North Shore in Wheeling, IL on August 10-12.  Familiar because it has been held there many times in the past. The event kicks off with the annual IEOC Invitational Golf Tournament at the Chevy Chase Country Club, a public course,  also in Wheeling.  Proceeds from the golf tournament benefit the NFPA Education and Technology Foun...