One year ago, business looked dismal. Fluid power companies were still reeling from the worst recession to hit the industry in decades. Advertising budgets were being reduced or eliminted. After a very slow 2009, the current year, 2010, did not look any better. In fact it looked worse.
Fortunately, business started rebounding in March and has been on an upturn ever since. One year later, confidence is back and companies have begun marketing more aggressively again. Many companies continued marketing right through the worst of times and they will reap the benifits of their consistency.
2011 has a lot of promise. Virtually all of the markets served by fluid power technology have recovered or at least improved. I have been saying that there has always been reason for optimism and that optimism is now being fulfilled with a strong recovery.
I learn from data shared by NFPA at the Outlook Conference. I read some of the financials to understand where the overall market is headed. I understand the Manufacturing Index and the GDP as well as the shipment reports.
However, the best information that I receive is from my customers when I ask, "How is business." The answers to that question more than any other official source of financial data, give me reason for continued optimism.