The MHEDA Journal - First Quarter, 2018 - 68

INDUSTRY

INDUSTRIAL TRUCKS

FORECAST
U.S. and Global Industry Continue to

Enjoy Strong Markets
BY BRIAN FEEHAN, PRESIDENT, ITA

T

he global growth rate has been maintained at its strongest rate for the first time since 2010. The growth rate
throughout 2017 has been above recent trends for both
advanced and emerging economies and the acceleration

has been more "synchronized" among the major economies than
at any time since before the major financial crisis. This is not
only true in our economies but we also seem to be experiencing global growth in our industry as well. We have a positive
outlook for the remainder of 2017.

Real gross domestic product (GDP)
is defined as an "inflation-adjusted
measure that reflects the value of all
goods and services produced by an
economy in a given year." Real GDP
can account for changes in price level
and provide a more accurate figure of
economic growth.
One thing that has helped bring some
stability to the U.S. economy has been
the recently reported stronger real GDP
growth. The estimate of growth in the
US economy was 2.6% during the
second quarter, an increase over first
quarter growth of 1.2% in a report from
the US Bureau of Economic Analysis
and with some now forecasting a 3.0%
growth in GDP.
When you look at the details of the
GDP data, it is interesting to note that
68

MHEDA | themhedajournal.org

"Personal Consumption" grew by 2.8%
during Q2 2017 and has been one of
the catalysts of GDP growth in the U.S.
Personal Consumption accounts for
approximately 67% of the growth and
perhaps our strong lift truck industry
also reflects this trend in consumer
confidence.
The Labor Department's Bureau
of Labor Statistics (BLS) said the
unemployment rate was steady at 4.3
percent. Another way to look at the
current unemployment sector in the US
is to look at a snapshot from 7 years
ago at the height of the recession where
unemployment stood at 10% to where
we are now at 4.3%.
The Federal Reserve approved
two rate hikes in 2017 to date. The
policymaking Federal Open Market

Committee increased its benchmark
target a quarter point. The new range
will be 1 percent to 1.25 percent for
a rate that currently is approximately
0.91 percent. The big question now is
whether the Federal Reserve will decide
to raise interest rates again in 2017?
Many experts have expressed more
confidence that the Federal Reserve is
likely to leave interest rates are their
current levels due to low inflation and
low wage growth.
Overall US manufacturers are seeking to maintain the strong recovery.
Although new orders for manufactured
durable goods in July decreased $16.7
billion or 6.8% to $229.2 billion - this
decrease followed a June increase of
6.4%, as reported by the U.S. Census
Bureau in August.
A weaker dollar and stronger markets around the world could be seen
as helping demand and production for
export products. The US Department
of Commerce reported earlier that the
trade deficit shrunk by $2.7 billion in
June to $43.6 billion, a decrease of
6.0 percent over the revised May figure of $46.4 billion. It is important to
note that the trade deficit is running
2.3% below last year's level, reflecting
a larger decrease in imports compared
to exports. However, when measured
in September 2017, the trade deficit
increased 26.7 billion or 10.7% from
the same period in 2016.
The July Purchasing Managers
Index (PMI) registered 56.3 percent,


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Table of Contents for the Digital Edition of The MHEDA Journal - First Quarter, 2018

Chairman’s Perspective
From the Desk of Liz Richards
Editor’s Note
MEET MHEDA’S 2018 BOARD OF DIRECTORS AND MBOA
MHEDA’S 2018 MATERIAL HANDLING BUSINESS TRENDS
Ask A MHEDA-NET Group
MHEDA Calendar
MHEDA MEMBER PROFILE
@WORK
WOMEN IN INDUSTRY
DISTRIBUTOR FORECAST
SUPPLIER FORECAST
MHI FORECAST
ITA FORECAST
CEMA FORECAST
ITR ECONOMICS FORECAST
2018 MHEDA CONVENTION SCHEDULE
THE RULE OF 72
New Members
Spotlight on Association News
MHEDA Milestones
Index to Advertisers by Product Category
Index of Advertisers by Alphabetical
The Last Word
The MHEDA Journal - First Quarter, 2018 - Intro
The MHEDA Journal - First Quarter, 2018 - cover1
The MHEDA Journal - First Quarter, 2018 - cover2
The MHEDA Journal - First Quarter, 2018 - 3
The MHEDA Journal - First Quarter, 2018 - 4
The MHEDA Journal - First Quarter, 2018 - 5
The MHEDA Journal - First Quarter, 2018 - 6
The MHEDA Journal - First Quarter, 2018 - 7
The MHEDA Journal - First Quarter, 2018 - 8
The MHEDA Journal - First Quarter, 2018 - 9
The MHEDA Journal - First Quarter, 2018 - 10
The MHEDA Journal - First Quarter, 2018 - Chairman’s Perspective
The MHEDA Journal - First Quarter, 2018 - 12
The MHEDA Journal - First Quarter, 2018 - From the Desk of Liz Richards
The MHEDA Journal - First Quarter, 2018 - 14
The MHEDA Journal - First Quarter, 2018 - Editor’s Note
The MHEDA Journal - First Quarter, 2018 - 16
The MHEDA Journal - First Quarter, 2018 - MEET MHEDA’S 2018 BOARD OF DIRECTORS AND MBOA
The MHEDA Journal - First Quarter, 2018 - 18
The MHEDA Journal - First Quarter, 2018 - 19
The MHEDA Journal - First Quarter, 2018 - 20
The MHEDA Journal - First Quarter, 2018 - 21
The MHEDA Journal - First Quarter, 2018 - 22
The MHEDA Journal - First Quarter, 2018 - 23
The MHEDA Journal - First Quarter, 2018 - 24
The MHEDA Journal - First Quarter, 2018 - 25
The MHEDA Journal - First Quarter, 2018 - MHEDA’S 2018 MATERIAL HANDLING BUSINESS TRENDS
The MHEDA Journal - First Quarter, 2018 - 27
The MHEDA Journal - First Quarter, 2018 - 28
The MHEDA Journal - First Quarter, 2018 - Ask A MHEDA-NET Group
The MHEDA Journal - First Quarter, 2018 - 30
The MHEDA Journal - First Quarter, 2018 - 31
The MHEDA Journal - First Quarter, 2018 - 32
The MHEDA Journal - First Quarter, 2018 - 33
The MHEDA Journal - First Quarter, 2018 - MHEDA Calendar
The MHEDA Journal - First Quarter, 2018 - 35
The MHEDA Journal - First Quarter, 2018 - MHEDA MEMBER PROFILE
The MHEDA Journal - First Quarter, 2018 - 37
The MHEDA Journal - First Quarter, 2018 - 38
The MHEDA Journal - First Quarter, 2018 - 39
The MHEDA Journal - First Quarter, 2018 - 40
The MHEDA Journal - First Quarter, 2018 - @WORK
The MHEDA Journal - First Quarter, 2018 - 42
The MHEDA Journal - First Quarter, 2018 - WOMEN IN INDUSTRY
The MHEDA Journal - First Quarter, 2018 - DISTRIBUTOR FORECAST
The MHEDA Journal - First Quarter, 2018 - 45
The MHEDA Journal - First Quarter, 2018 - 46
The MHEDA Journal - First Quarter, 2018 - 47
The MHEDA Journal - First Quarter, 2018 - 48
The MHEDA Journal - First Quarter, 2018 - 49
The MHEDA Journal - First Quarter, 2018 - 50
The MHEDA Journal - First Quarter, 2018 - 51
The MHEDA Journal - First Quarter, 2018 - 52
The MHEDA Journal - First Quarter, 2018 - 53
The MHEDA Journal - First Quarter, 2018 - SUPPLIER FORECAST
The MHEDA Journal - First Quarter, 2018 - 55
The MHEDA Journal - First Quarter, 2018 - 56
The MHEDA Journal - First Quarter, 2018 - 57
The MHEDA Journal - First Quarter, 2018 - 58
The MHEDA Journal - First Quarter, 2018 - 59
The MHEDA Journal - First Quarter, 2018 - 60
The MHEDA Journal - First Quarter, 2018 - 61
The MHEDA Journal - First Quarter, 2018 - 62
The MHEDA Journal - First Quarter, 2018 - 63
The MHEDA Journal - First Quarter, 2018 - 64
The MHEDA Journal - First Quarter, 2018 - MHI FORECAST
The MHEDA Journal - First Quarter, 2018 - 66
The MHEDA Journal - First Quarter, 2018 - 67
The MHEDA Journal - First Quarter, 2018 - ITA FORECAST
The MHEDA Journal - First Quarter, 2018 - 69
The MHEDA Journal - First Quarter, 2018 - 70
The MHEDA Journal - First Quarter, 2018 - 71
The MHEDA Journal - First Quarter, 2018 - 72
The MHEDA Journal - First Quarter, 2018 - CEMA FORECAST
The MHEDA Journal - First Quarter, 2018 - ITR ECONOMICS FORECAST
The MHEDA Journal - First Quarter, 2018 - 75
The MHEDA Journal - First Quarter, 2018 - 76
The MHEDA Journal - First Quarter, 2018 - 77
The MHEDA Journal - First Quarter, 2018 - 2018 MHEDA CONVENTION SCHEDULE
The MHEDA Journal - First Quarter, 2018 - 79
The MHEDA Journal - First Quarter, 2018 - THE RULE OF 72
The MHEDA Journal - First Quarter, 2018 - 81
The MHEDA Journal - First Quarter, 2018 - 82
The MHEDA Journal - First Quarter, 2018 - New Members
The MHEDA Journal - First Quarter, 2018 - Spotlight on Association News
The MHEDA Journal - First Quarter, 2018 - 85
The MHEDA Journal - First Quarter, 2018 - MHEDA Milestones
The MHEDA Journal - First Quarter, 2018 - 87
The MHEDA Journal - First Quarter, 2018 - Index to Advertisers by Product Category
The MHEDA Journal - First Quarter, 2018 - Index of Advertisers by Alphabetical
The MHEDA Journal - First Quarter, 2018 - The Last Word
The MHEDA Journal - First Quarter, 2018 - cover3
The MHEDA Journal - First Quarter, 2018 - cover4
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