Despite the recent news that GDP was down very slightly in the fourth quarter of 2012, Alan Beaulieu is bullish on 2013. The Institute for Trend Research economist told attendees of the National Association of Wholesaler-Distributors annual Executive Summit this week that they should invest in their businesses this year.
“I want you to be enthused about 2013,” he said during the opening session in Washington, D.C.
That means not holding back while your competitors are, and gearing for the opportunities that do exist. That doesn’t mean going on a hiring spree, but distributors should invest in technology, efficiencies and training for the employees they do have ensuring a more productive workforce.
There are some fundamental problems underlying the current economy, but overall the U.S. will grow in 2013, with a mild recession in 2014. “But compared to what you just went through in 2009, it’s nothing,” Beaulieu said.
In 2014, you’ll need “cash and nerves of steel,” as the news may make the economy sound worse than it actually will be, he said.
Beaulieu’s colleague, Andrew Duguay, also presented his outlook for 2013 in MDM’s recent webcast, the 2013 Economic Outlook, which is available on-demand and on DVD from the MDM Store.