Participants at the recent seminar held by ACT Research Co. expect employment will be positive in the US in 2012, material costs will continue rising at a modest pace, and manufacturing output will grow, but at a slower pace than in 2011.
The seminar was attended by personnel from more than 100 companies, many of whom toured the Mid America Truck Show in Louisville with ACT following the seminar. “According to our panel, the two greatest risks to the outlook are the behavior of oil and the pace of economic activity in the US and abroad,” said Sam Kahan, ACT’s chief economist.
“Panelists also measured inflation about 0.6 percentage points higher than Blue Chip. This may be because our sample is pessimistic with regard to energy prices, projecting an average price of crude oil in the $110 to $115/barrel range for the next two years,” he added.
ACT holds two seminars each year for its Outlook subscribers. The next seminar, #47, will be held September 11-13, 2012.