Outlook Pundits Weigh in on Economy
WASHINGTON, DC—Some 60 attendees at the Print Outlook portion of the NPES 2009 Industry Summit heard predictions on the outlook for the overall U.S. economy, the printing industry specifically and on advertising media trends. NAPL Chief Economist Andrew Paparozzi predicted a 3.5 to 4.5 percent decline in printing industry sales, on top of last year’s 3.9 percent drop. Although he anticipates signs of modest recovery in early 2010, Paparozzi stressed that it will “not lift all boats—only those companies that structurally change their businesses.”
His counterpart, Printing Industries of America Chief Economist Ronnie Davis, anticipates some recovery beginning in Q4 2009. However, overall U.S. GDP will slow to 2.2 percent over the next decade, according to Davis.
In describing the $300 billion advertising media market, Marty Maloney, of Broadford & Maloney, pointed out that the Internet still represents a small slice of ad revenues. He also believes that opportunities for printers currently exist with gift and discount cards, cents-off coupons, FSIs, direct mail, digital books, large-format and variable data digital printing, as well as newspapers printed by commercial shops.