MRO Magazine

EFC’s Economic Forecast Day looks at global impact

Toronto, ON -- Electro-Federation Canada (EFC) held its 2006 Economic Forecast Day on Sept 28, 2005, drawing over 1...


Toronto, ON — Electro-Federation Canada (EFC) held its 2006 Economic Forecast Day on Sept 28, 2005, drawing over 120 members and guests. The event featured special presentations by Maureen Farrow, Economap; Don Leavens, NEMA; Iain Morris and Danielle Bushen, Mercer Human Resource Consulting; and Peter Norman, Clayton Research Associates. Key highlights brought to the forefront by the presenters include:

India and China will rise as leading economies in the coming years. Both countries are growing at the rate of 6-7% each year. Also, by 2015, China and India will create three-to-four times the number of new middle class families that were created in North America, Europe, and Japan between 1947-1964 (baby boomers).

Global economy growth shows resiliency, but there are several factors that can inhibit growth: change in consumer confidence indexes; further rise in oil prices; collapse of house prices; onset of geopolitical events; pandemic; and other factors.

North America’s electro-industry business confidence jumped to 83.3 in September 2005 due to expected reconstruction demand. This index is expected to fall to 66.7 in six months (compared to current conditions).

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Construction investment and economic contribution in Canada has grown by 5% per year. Slower job growth is expected to affect consumer confidence, thereby having an impact on home-buying patterns.

For more information, visit www.electrofed.com.