Printing Industry Tunes In to Economic Update Webinar Sponsored by EFI and WhatTheyThink.com
Dr. Joe Webb's economic webinar for the printing industry can be accessed online in audio and presentation format at http://members.whattheythink.com/home/wttnews040402.cfm. Forecasts difficult year for the industry, yet many print businesses are adapting and doing well. Advises printers to "stay ahead of their customers, ignore their competitors."
(PRWEB) April 7, 2004 -- In a Webinar hosted by WhatTheyThink.com, the printing industry's leading source of news and information, Dr. Joe Webb, one of the industry's best-known consultants and a 25-year veteran of the graphic arts industries, shared his insight on the state of the industry for the first quarter of 2004, with a view toward the balance of the year. The Webinar, which was sponsored by EFI (www.efi.com) was well-attended by over 200 printing industry executives representing the print service provider, vendor, consultant and press communities. The audio (MP3) and presentation slides (PDF) of the Webinar are available online at http://members.whattheythink.com/home/wttnews040402.cfm
Among the topics covered by Dr. Webb were:
-- current economic conditions and trends
-- print business and related outlook
-- updated assessment of the strengths, weaknesses, opportunities and threats relative to the printing industry
-- what's happening with print buyers and publishing market segments
Overall, the economy is looking better," said Dr. Webb. Much of the negative information about the economy is directly tied to the fact that this is an election year-the political spin factor" is always exaggerated in years divisible by four."
While CEOs still remain wary about the extent of the economic recovery, Dr. Webb forecasts strong GDP growth of +4% for the second quarter of 2004. One metric that is often overlooked when talking about employment data," he said, is the significant increase in the number of new businesses being formed and the dramatic increase in sole proprietor income. Many of these new businesses are in the service sector. For 20+ years, the importance of the 'service economy' has been discussed again and again, but it has taken until the 2002 Census to get this topic treated seriously. Later this year, the Census Bureau will be starting to release monthly service sector reports which should help balance this reporting."
Recovery in the printing industry, however, is not progressing as quickly as other sectors. In data released yesterday, February print shipments were down $-221mm compared to Feb 2003, and shipments in the first two months of the year were down -3.2% compared to last year. Comparatively, durable goods were up +2.5%, overall factory orders were up +0.3%, and these two data points have been up four out of last six months, with the biggest growth in computers (+26%), construction machinery (+32%) and textiles (+17%)
Dr. Webb encouraged printers to stay focused on the right things, and stay ahead of your customers, not your competitors," pointing out the importance of addressing and driving change by creating a resilient and innovative organization.
The presentation, including audio, can be accessed at no charge at http://members.whattheythink.com/home/wttnews040402.cfm. Dr. Webb will be presenting quarterly updates through the balance of the year, hosted by WhatTheyThink and sponsored by EFI. He also provides commentary in his weekly WhatTheyThink columns, available to Premium Access members.
About EFI:
EFI (Nasdaq: EFII) is the world leader in digital imaging and print management solutions for commercial and enterprise printing. EFI's award-winning technologies offer document management tools from creation to print, including high fidelity color and black and white Fiery® print servers that can output up to 2000 pages per minute; powerful production workflow and print management information software solutions for increased performance and cost efficiency; and an array of business-critical enterprise and mobile printing solutions.
About WhatTheyThink.com:
WhatTheyThink.com is the print and publishing industry's leading online community. The company offers a mixture of free and subscription-based content for industry executives. Additionally, WhatTheyThink.com provides a robust content syndication program serving related web sites.
About Dr. Joe Webb:
Industry commentator and forecaster Dr. Joe Webb is a 26+ year veteran of the graphic arts industry. He has served the industry as a consultant, executive, and the founder of the TrendWatch surveys. His academic background is a combination of business, computer technologies, and graphic arts. His doctoral work was completed at the NYU Center for Graphic Arts Management and Technology. Dr. Webb has worked with industry suppliers of all types, including capital equipment such as presses, software developers, computer and peripheral manufacturers and developers, national and multinational organizations, associations, and others. A frequent speaker at industry events, Dr. Webb's weekly column Fridays with Dr. Joe" appears at www.WhatTheyThink.com where it has become a must-read feature for the entire printing industry. (Photos of Dr. Webb for editorial purposes can be downloaded at www.drjoewebb.com/press )
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