The economic outlook for MHEDA members is set to improve, according to three reports.
- Dr. Jeff Dietrich, an economist with the Institute for Trend Research, presented a webinar for MHEDA members on October 4, in which he predicted positive growth in the U.S. economy for the next three years. The seminar, titled “Economic Trends: 2011 and Beyond,” also predicted that the material handling industry would grow by 6.9% in 2010. Dietrich made clear that there is no expectation of a double-dip recession based on indicators from the Purchasing Managers Index and the U.S. Composite Leading Indicator.
- The Institute for Supply Management’s survey found that manufacturing jobs are up 1.6% since the beginning of this year, with 26% of companies surveyed having added staff, against only 5% cutting workers. This marks the first year since 1998 the industry has reported positive job growth and the biggest jump since 1994.
- The Conveyor Equipment Manufacturers Association announced that overall industry orders for the first six months of 2010 increased 19.6% compared to the same period in 2009, with total orders of $3.46 billion and an estimated $3.09 billion in industry billed sales during the same period.