Some of the key indicators for our economy continue to show growth and strength and that bodes well for our fluid power industry. A few days ago, the GDP for Q4 2010 was reported at 3.2 which is very good news considering that it is still expanding from the previous quarter.
The GDP is, of course, a macro indicator of the US economy's overall performance and it actually reflects the big picture of where things stand economically. I don't have a figure for the fluid power economy but my guess that it is actually in excess of 3.2 for the quarter based on my conversations with fluid power provides.
The other great bit of news is that the ISM Manufacturing Index is reported to be over 60 for the month of January. As you probably know, anything over 50 indicates a positive scenario in the manufacturing world. Again, this is in line with or possibly exceeded by the fluid power industry based on the indications given by the manufactures with whom I communicate.
All told, 2011 seems to be moving in the right direction for our overall US economy and expecially for the fluid power industry. This is a great time for our biggest show of the year, IFPE coming up in March.