The MHEDA Journal - First Quarter, 2013 - (Page 64)

FORECAST Modest Growth for the Industrial Trucks Sector INDUSTRIAL TRUCKS INDUSTRY W INDUSTRIAL TRUCK ASSOCIATION 6 4 2 Percentage change 0 -2 -4 -6 -8 -10 BY BRIAN FEEHAN hile the U.S. economy continues to expand, the pace of growth has been very slow and has become even slower over the past few months. Most economists are now predicting a 1.5 percent to 2.0 percent growth in GDP in 2012; not great, but hopefully better than the 1.7 percent growth we saw in 2011. News and forecasts about today’s economic environment can change quickly and with the fiscal decisions facing our political leaders in Washington, predicting economic activity can be challenging. In October, the Bureau of Labor Statistics (BLS) announced that the unemployment rate fell from 8.1 percent in August to 7.8 percent in September. This unexpected drop was largely the result of 873,000 additional employees counted in the household survey, with a sizable portion of that stemming from more people working part time because they could not find full-time work. The lower unemployment rate does not change the fact that the economy remains weak, especially for the manufacturing sector. There were just 114,000 non-farm payroll jobs added in September, with 16,000 fewer manufacturing workers. This was the seventh consecutive month of overall disappointing non-farm payroll growth. This speaks to the significant weaknesses seen in the global economy and uncertainties about U.S. growth heading into 2013. Data on manufacturing activity is mixed. The Census Bureau noted steep declines in new durable goods orders. This decrease was mainly in the transportation sector, particularly for aircraft, but sales and shipments of durable goods were largely down across the board. However, in contrast, nondurable goods activity was higher. _______________________________________________________________________ U.S. GDP % Change _______________________________________________________________________ U.S. Unemployment Rate 12.0 INDUSTRIAL TRUCK ASSOCIATION 10.0 Percent unemployed 8.0 6.0 4.0 2.0 2008 2008 2009 2009 2009 2010 2010 2010 2011 2011 2011 2011 2012 2012 2012 2012 2013 2013 2013 2008 Q3 Q4 2009 Q2 Q3 Q4 2010 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q2 Q1 Q1 Date 0.0 ______________________________________________________________________ Industrial Truck Association MHEDA 2012 Source: US Bureau of Economic Analysis ______________________________________________________________________ Industrial Truck Association MHEDA 2012 Source: US Bureau of Labor Statistics 64 MHEDA |

Table of Contents for the Digital Edition of The MHEDA Journal - First Quarter, 2013

President’s Perspective
From the Desk of Liz Richards
Ask Your Board
Member Profile
MHEDA Member Profile
At Work
2013 Industry Forecast
Distributors Forecast
Suppliers Forecast
MHEDA Members Exhibit at ProMat
MHIA Expects Slow Growth in 2013
Modest Growth for Industrial Trucks Sector
Cautious Optimism in Conveyor Industry
Get Your Game On
New Members
Spotlight on Association News
MHEDA University Calendar
MHEDA Milestones
New Products
Index of Advertisers by Product Category

The MHEDA Journal - First Quarter, 2013