2. So are we in a recession? Technically, no. Experts define a recession as two consecutive business quarters with negative growth in the nation"s GDP. Of course, we technically didn"t meet that definition in 2001 either, according to Dr. Chris Kuehl, the Fabricators & Manufacturers Association consulting economist, and no one is claiming we didn"t have a recession then.
People are asking me to be more vocal about spreading the stories about metal fabricators" successes. They are right. I"ve heard from many fabricators who are busy as can be as they fill orders for customers in agricultural, aerospace, defense, food preparation, medical, power generation, and other metal-hungry industries. The weakness of the U.S. dollar undoubtedly has encouraged exports and has kept many of these industry sectors hopping.
However, I can"t say the same for those metal fabricators and formers that serve the automotive industry. For that matter, the commercial building sector is slowing down as well.
So where does that put the metal fabricating industry? It"s stuck right in the middle, subject to a variety of economic influences.
Not a good enough answer? I"ll let the UCLA School of Business provide the final answer. Anderson forecasters predict GDP to be growing at 2.5 percent by the end of this year. That"s not enough growth to produce the jobs needed for a healthy economy, but it"s not the dire situation that some economists are ready to settle for either.
3. The last bit of snow has almost melted. Opening day for the Major League Baseball season is right around the corner. Income taxes are due in less than three weeks. Life can be so cruel.
The FABRICATOR is North America's leading magazine for the metal forming and fabricating industry. The magazine delivers the news, technical articles, and case histories that enable fabricators to do their jobs more efficiently. The FABRICATOR has served the industry since 1971.