You need to know what’s going to happen in the economy so you can make the best business decisions for your company. Although manufacturing technology orders surpassed $5.9 billion in 2021 – marking the most successful year ever – some businesses have concerns. How much longer will unpredictable supplies and rising prices be around?
Get answers and data – sprinkled with his sharp sense of dry humor – from leading national economist and ITR Economics President Alan Beaulieu, who will speak at AMT’s MFG Meeting, April 27-30, in Bonita Springs, Florida. Beaulieu will share his forecast through 2023 and offer insight into how manufacturers can capitalize on opportunity, practical advice to stay ahead of the competition, and data to help you strategically plan.
Beaulieu specializes in forecasting and planning based on business cycle trend analysis. We spoke with him to get a preview of what he sees on the economic horizon. Here are a few key takeaways:
The worst of the supply chain crisis is behind us.
Labor supply shortages will ease slightly in the next two years.
We can expect a temporary slowdown in inflation.
Overall, business demand and the economy will continue to grow but at a slower pace.
Beaulieu will discuss these points in terms of strategic business planning to maximize investments, avoid the misallocation of resources, and manage spending.
“The level of the speakers that are brought in for The MFG Meeting, particularly the economic speakers and forecasters, are highly valuable for us.” – Annette Carroll, Director of Marketing, Okuma
He also shared with us how some important sectors in manufacturing will fare:
The automotive sector will likely experience growth through 2023 as it catches up on pent-up demand.
The aerospace and defense sectors, although typically less tied to general economic activity, will also do well.
We asked if the outcome of the midterm elections will affect the economy. Beaulieu said, “I don’t believe that a shift to a Republican-controlled Congress will change the economic situation in the next two years.” Good news.
As always, Alan will drill down into more details on key economic indicators and trends that he sees and tell us how and why they will influence the supply chain, labor supply, inflation, and interest rates.
“The MFG Meeting is tremendous because you can see trends in the industry.” – Olaf Tessarzyk, CEO, MiQ Partners.
AMT’s MFG Meeting brings together manufacturing technology leaders to address key business challenges, identify opportunities, and provide actionable solutions. Speakers cover a wide range of topics, including economics, emerging technology, supply chain, leadership, and politics. Register now.
“I enjoy the networking opportunities at The MFG Meeting as well as catching up with peers from the industry. Talking face to face lets me build new connections for future business and get new ideas for our company.” – Neil McGill, Director of Operations, Allendale Machinery Systems.
The MFG Meeting takes place April 27-30 in Bonita Springs, Florida. This unique meeting experience provides many opportunities to network with executives from companies that make, sell, service, and support manufacturing technology. Join us to drive manufacturing change and register today. We look forward to seeing you there!