NFPA recently conducted its traditional October Economic Update Webinar with ITR Economics’ Jim Chappelow. NFPA’s economic webinars feature the latest insights into our economy and help our members gain critical information on the economic risks and opportunities facing their organization.
Mr. Chappelow’s message came through loud and clear throughout the presentation: “growth in the fluid power industry through at least 2016.” ITR Economics’ annual details concerning the outlook for the fluid power industry highlighted a growth peak at year-end for 2014 and a very mild slowdown (but continued growth) in 2015, followed by a mild first quarter with continued growth throughout 2016. When looking beyond 2016, conditions became a little harder to predict, but ITR Economics forecasts more growth through 2017 leading to slower growth and an impending recession in 2018.
Mr. Chappelow delved deeper into the US economy, identifying the fluid power industry’s strong relationships and similar trends to a number of industries and leading indicators, such as Construction Machinery, US Industrial Production, Nondefense Capital Goods New Orders w/o Aircraft, US Leading Indicator, ITR’s Leading Indicator, and the Purchasing Managers Index (PMI). At the end, he finally revealed ITR’s three year forecast for the fluid power industry, including individual forecasts for both the hydraulic and pneumatic segments of the industry.
Some other interesting highlights from the webinar included a full review of the current state of industrial production by country throughout the globe, a list of industry sectors that may offer a variety of opportunities for manufacturers, and a full review of just how ITR Economics prepares their forecasts and outlooks.
To view the archived recording of this webinar, please click HERE. Your NFPA Login will be required.
To request a PDF copy of the presentation or ask any questions, please contact Eric Armstrong at email@example.com or 414-778-3372.
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