The Witch is dead!
The National Bureau of Economic Research issued a statement that the “trough” ended in June 2009.
So how come we feel like the house fell on us?
- Inavailability of skilled machinists
- China continues to manipulate its currency;
- North American OEMS continue to try to move work to China;
- Inavailability of credit from Banks;
PMPA’s Business Trends Sales Index proclaimed “The Lost Decade” in March and “A New Normal” in April.
The Lost Decade was when our sales index returned to year 2000 levels. The New Normal is its new range at those year 2000 levels.
See our announcement here.