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09/11/2009

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Recovery Signs at the US


During the last week of October, 2009 I had the good luck to travel to the United States with friends from the FemCat Foundation on a benchmarking trip to Massachusetts, and afterwards to attend the WorldWide Food Expo  (the trade fair of AMI , American Meat Institute), the most important show of the meat sector in the entire American continent, held at the Mc Cormick Place in Chicago.

 My impressions, upon return from this busy travel agenda, contain sparks of optimism ...an optimism that hopefully is aware and intelligent, but at the same time based on a whole series of facts:

 - For some months now, in certain sectors (for example, the meat sector) orders have picked up again after 2-3 years of total apathy.

 - It seems that many industrialists in the  sector have already adapted to the new circumstances and have started to earn money again, a fact that translates into increased investor confidence and purchase orders for new equipment.

 - The number of visits in this Show has increased by about 40% ...people are travelling abroad again to analyze technologies and new investments.

- If you talked to people attending the fair 2 or 4 years ago you could sense a pervasive air of pesimism and discouragement ...nobody was making money and they were already envisioning the impending crisis. Two weeks ago the atmosphere was one of renewed optimism ...an unmistakable sign that something is changing.

- Coinciding with the Show in Chicago, the latest United States GDP data was released, showing a significant increase of 3.5%.

- In the media, the news is no longer all disastrous, and two out of three news items are optimistic and motivating.

While we shouldn't forget that there may still be more banks failures to come, higher unemployment and possibly a second wave of subprime foreclosures, the fact remains that these signs are glimmers of hope that are beginning to signal some light at the end of the tunnel and, consequently, when consumer confidence is restored in the  leading world economy (which still may take some time!!!), this may usher in a new period of bonanza in the American economy and, as a result, in the global economy.

In the picture with Adam Hamling, meat technologist of Nu-Meat & Metalquimia in the United States, during the AMI Show in Chicago

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