DBL Law, along with Huntington Bank and Barnes Dennig, was a proud sponsor of one of the most important business forecasting events in the region, the 2014 Annual Manufacturing & Distribution Seminar, headlined by the insightful economist Alan Beaulieu.Alan’s overall message was positive for the business of manufacturing and distribution, and included insights to help companies position themselves for growth in 2015.
He said there are good reasons to be optimistic about the economy in the short term and that there will be a slight downturn in 2019. , but it will be a manageable one. There will also be numerous opportunities for companies paying attention to the growth areas of the local, national and global economy.
Important Leading Indicators are all Trending Up:
- The world is relatively calm.
- Employment is rising.
- Banks are lending.
- Retail sales are rising.
- Non-residential construction is improving.
Additional Important Insights:
- Ohio is second only to Texas in terms of our ability to attract business and in the number of expanding businesses.
- Changes in the political landscape are not likely to change the economic landscape.
- According to the U.S. Census, the middle class in America is growing.
- Although the debt is narrowing, we have not fixed the problem because, to date, citizens and politicians have no appetite for austerity. Therefore, U.S. deficit spending continues and will pose serious challenges in the future.
- Manufacturing in the U.S. is now only 5% more expensive than in China.
- U.S. annual auto exports are skyrocketing.
- U.S. dependence on foreign oil is declining.
- Corporate bond prices are looking up, this is a good long term sign.
- Unemployment rate for U.S. is 5.9% (2014).
- Automate as much as possible to reduce internal inefficiencies.
Areas to be concerned about:
- The U.S. is currently spending more per capita on our aging population than other developed countries.
- In the 2030s, some nations will experience serious economic problems as a result of their aging populations. These issues will affect the U.S., Europe, Japan, and China. Mexico and Australia will fare much better during this time.
See the Cincinnati Business Courier interview here.
Thanks to everyone who helped make this event a success. We look forward to seeing you all next year. If you would like to receive an invitation for the 2015 event, please contact Andrea Patrick at 859-426-2170 or send your contact information to apatrick@dbllaw.com.
Dressman Benzinger LaVelle psc is a mid-sized full-service law firm with offices located in Cincinnati, Ohio; Crestview Hills, Kentucky; and Louisville, Kentucky.
2014 Manufacturing Seminar with nationally recognized economist Alan Beaulieu sponsored by DBL Law, Huntington Bank and Barnes Denning.
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