This piece was originally published in the December 2017 issue of electroindustry.
Donald R. Leavens, PhD, NEMA vice president and chief economist, began his economic outlook session by noting that key market drivers for the beleaguered core electrical equipment manufacturing sector were improving. He noted that synchronized global economic growth, more balanced domestic economic growth, and accommodative monetary policy will help to lift demand modestly for sectors of the electroindustry serving the industrial sector. Anemic productivity gains and labor force growth will continue to keep growth potential below the long-term average near three percent. Structural policy changes such as tax reform could lead to higher investment and productivity gains longer term.