The United States, Canada, and Mexico are entering an economic period of opportunity that will benefit the plastics industry. Europe? Hold that thought.
That was one of the points made by economist Alan Beaulieu, President of ITR Economics, at the International Association of Plastics Distribution's (IAPD) annual Convention and Plastics Expo in Chicago today. Beaulieu's keynote presentation was insightful, analytical, and brimming with good news, at least for North America. And he's worth paying attention to: over the last 20 years or so, his economic forecasts have proven to be 94% accurate.
Forget those depressing polls, said Beaulieu. "I think people are watching too much Family Guy and mistaking that for reality," he said. (In addition to being an economics wiz, he is quite funny and had the ballroom in stitches on more than one occasion.) We are not headed for another recession, he stressed, at least not until 2019, when we may experience a mild consumer-led downturn. The economy will slow down in 2015, but there will be growth, and 2016 will be robust and usher in four solid years of economic growth, he told attendees. "All of the leading indicators are good. The U.S. Industrial Production Index has never been higher. The economy says you're going to grow; if you're not, something internal to your company might be wrong," said Beaulieu.