by Eric Armstrong, firstname.lastname@example.org
NFPA recently conducted its traditional October Economic Update Webinar with ITR Economics’ Jim Chappelow. The webinars feature the latest insights into our economy and help 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.