I gained several key items of information from the NFPA economic update webcast yesterday. The Institute of Trends Research has been a regular provider of very useful information for me and my business.
With the economic recovery being very widspread and rather rapid, considering the depth of the downturn, companies are realizing profits at a record pace this year. The number $2 trillion in corporate profits this year is well in excess of the normal $800 billion.
The good news here is simply stated "confidence." With increased confidence because of increased profits, we should continue to see increased investment both in people and goods. That is what should happen and if it does, we should see an increase in employment as well.
The housing start problem is still holding the overall economy back. If we can show this kind of recovery with housing starts being depressed, imagine how things could have been. We should, however, see a sustainable recovery through 2013 according to ITR and that is great news.
Now is the time for companies to invest back into their business and that bodes well for the media business. The magazines and websites that have a lot to offer should do well over the next three years.