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Glimmers of Hope
Since about mid-2008, the U.S. and global economies have taken one hit after another: the sub-prime mortgage crisis, the stock market meltdown, and, as this is written, a new report from the Labor Department that puts the unemployment rate at 7.2%, the highest in 16 years.
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| JIM DESTEFANI, Editor Contact me |
The bad news has finally caught up to the manufacturing and finishing sectors of the economy, many of which held up surprisingly well at least through the first half of last year. But a new report from Manufacturers Alliance/MAPI (Arlington, VA; www.mapi.net) says the manufacturing recession will deepen in the vast majority of industrial sectors covered.
Authored by MAPI chief economist Daniel J. Meckstroth, Quarterly Industrial Outlook—Third Quarter 2008 analyzes the past performance and future prospects for multiple industry sectors. Meckstroth predicts manufacturing production will fall 4.2% in 2009, preceding 0.9 percent growth in 2010.
The numbers contained in the report are rough, but it it’s not all gloom and doom. There are a few faint glimmers of hope—industry sectors where growth will remain positive in 2009, according to the report. These include aerospace products and parts (+3%) communications equipment and public construction (each +1%).
If you can make it through this year, you may be OK. Meckstroth anticipates a turnaround in 2010, with 16 of the 24 manufacturing sectors expected to expand. So hang on, 2009 might be a bumpy ride.
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Share your views, win an Amazon gift certificate UESTION How’s your business shaping up in 2009? Let us know and you’ll have a chance to win a $50 Amazon.com gift card. Responses may be published in next month’s Digital Dispatch. Click here to respond |
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To me there is not enough long range data to support global warming. We only have come to an age of accurate measuring instruments in the last 50 years. Going on data from such a short time period ( and even shorter, as some scientists rely on data from this decade alone ) is basically un-scientific. We all know the Earth goes in cycles and that the rise ( and fall ) of global temperatures is cyclical in nature.. For that, and what the heck, for surviving the winter in western New York, Joe earns a $50 Amazon gift card. Thanks to all who responded.
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