Opening Presenter Kicks Off Fenestration Day™ 2013 with Economic OutlookOctober 31st, 2013 | Category: Featured Content
Fenestration Day™ 2013 opened today at the Renaissance Schaumburg Convention Center Hotel in Schaumburg (Chicago), Ill., with a keynote session from William Greiner, chief investment officer at Mariner Wealth Advisors, who provided a market outlook, both globally and here in the U.S.
He began by telling attendees that the unemployment rate will be less than 7 percent by the end of the year.
“We won’t see deterioration in the employment picture and it will get better,” he said.
Looking at the market globally, he said European recessions are a lot different than in the United States.
“They are coming out of it now. Japan is [also] going to start turning around, and will grow right around 2 percent,” he said and added that areas of the world starting to slip are emerging markets. He said China’s growth rate is going down as it is not as contributive as it once was.
Why is it weak? He said the ability to transact is there but for some of these markets the willingness to transact is missing.
“The economy won’t get to a trend growth profile until we get this cleared up,” he said. “Small business people seem to be a pretty optimistic lot. You have faith in the future. You are risk takers … getting to a more normalized environment, but not quite there yet.”
Greiner told his audience that our [nation’s] manufacturing businesses are continuing to expand.
“We have turned ourselves into a high cost manufacturing center. The U.S. now has an advantage from an energy standpoint over overseas competitors,” he said. “Manufacturing has had three straight years where that number is going up and that is the first time in 40 years. This is a positive trend we are noting in the economy. Manufacturing is coming back in the U.S. GDP will accelerate over next two years.”
A number of other seminars are also taking place today as part of Fenestration Day™ 2013. Visit http://www.dwmmag.com/feneday/ to learn more.