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FLEXO Magazine : September 2009
10 FLEXO SEPTEMBER 2009 www.flexography.org FTA TODAY Recovery Mode... Big names...Big news...Blue chip indicators---all are pointing to one thing: economically speaking, the world's economy is turning the corner. Both President Barack Obama and Federal Reserve Chairman Ben Bernanke stood before the American public in the dog days of August and admitted that they were cautiously optimistic that the worst days of the recession were behind us. Reuters, Bloomberg, Newsweek, CNN, CNBC and media outlet after media outlet posted or broadcast stories and claims that "The recession has ended," or "The recession will soon end." Third quarter 2009 was seen on all fronts as highly significant. In fact, most analysts say the three summer months, as well as the fourth quarter immediately to follow, are destined to change the business climate, here in America, as well as across the globe. Welcome words indeed. Here in the flexographic printing and converting community, we've been waiting to hear them for well over one year. Now, finally, it seems that fears of a repeat of The Great Depression, whether founded or unfounded, are being dispelled. Talk is instead turning to forecasts for a slow and steady pace to recovery. Phew! CHIPS ARE IN Release of an Aug. 10 Blue Chip Economic Indicator Survey, coupled with similar findings in an earlier National Association for Business Economics Survey, drove dis- cussion, and with it, dissemination of all this good news. Ninety percent of economists are now on board with the thought that we're out of the woods. There is, however, some disagreement as to whether we'll experience a "U" shaped recovery---66 percent say we will, a "V" shaped recovery---17 percent make that prediction, or a "W" shaped recovery---17 percent cite that expectation; but they stand unanimous in agreeing that our economy has moved from "meltdown" to recovery mode. Highlights of the forecast, as well as some facts that spawned its development follow: • U.S. Gross Domestic Product rose 1 percent in the second quarter. • France and Germany, the two major European Union economies reported an end to the recession this August, with both countries showing improvements in their GDPs of 0.3 percent in the second quarter. • Bank of England now predicts Britain's recession will end in early 2010. • Gradual recovery will be evident throughout 2010. Expect: A marginal improvement in consumer spending. Slow, steady growth in residential (housing/real estate) investment. Lessening in pace of business inventory liquidations. Jobless rate in the U.S. to spike to 10 percent, then eventually dip to less than 7 percent sometime in 2012. Early evidence of payrolls starting to expand in 2010. Companies moving out to rebuild inventories---today, or in the very near future. POSITIVE PENDULUM It's really happening. Stimulus programs/packages are taking root. Even with budget deficits spiraling, momentum is swinging to the positive. Timing is good. This industry is certainly ready. It will welcome the freeing-up of capital equipment investment dollars, the breeding of innovative ideas and applications; as well as the lifting of travel restrictions, right at the start of its Fall show circuit---PRINT 09, Label- expo Europe, FFTA's Fall conference, Pack Expo, CPP, Corr Expo, etc. etc. In just a few short months, we're set to welcome in a new decade. Let's come together and work hard to make certain that it's fraught with opportunity and ripe with prosperity. PUBLISHER'S INK BOARD OF DIRECTORS OF THE FLEXOGRAPHIC TECHNICAL ASSOCIATION Roxanne Baker, Cryovac Sealed Air Mark Cisternino, Flexographic Technical Association Larry Claton, Aquaflex Greg Collins, C-P Flexible Packaging Michael Ferrari, Procter & Gamble Gary Hilliard, Hood Packaging Michael Impastato, Flint Group Jean Jackson, Praxair Surface Technologies Eric Jones, The Label Company Gene Martin, The Robinette Co. Matt Moffett, The Meyers Printing Co. James Nelson, Great Lakes Packaging Corp. David R. Nieman, All Printing Resources Greg Platt, GMF Flexo Prepress David Straten, Advance Packaging Corp. Michael Reinhardt, Windmoeller & Hoelscher BOARD OF TRUSTEES OF THE FOUNDATION OF FLEXOGRAPHIC TECHNICAL ASSOCIATION Roxanne Baker, Cryovac Sealed Air Mark Cisternino, Flexographic Technical Association Larry Claton, Aquaflex Greg Collins, C-P Flexible Packaging Michael Ferrari, Procter & Gamble Gary Hilliard, Hood Packaging Michael Impastato, Flint Group Jean Jackson, Praxair Surface Technologies Eric Jones, The Label Company Gene Martin, The Robinette Co. Matt Moffett, The Meyers Printing Co. James Nelson, Great Lakes Packaging Corp. David R. Nieman, All Printing Resources Greg Platt, GMF Flexo Prepress David Straten, Advance Packaging Corp. Michael Reinhardt, Windmoeller & Hoelscher PUBLISHING DIRECTOR Mark Cisternino EDITORIAL ADVISORY COMMITTEE Richard Cervarich, DuPont Packaging Graphics Catherine Haynes, All Printing Resources Jean Jackson, Praxair Surface Technologies Brad Keys, Corporate Express John Meyer, Western Michigan University Dave Nunez, International Paper John Paine, C-P Flexible Packaging Paul Wilson, Encore Washington Ltd.