NSCA Chief Economist Dr. Chris Kuehl updated his Economic Outlook 2020 for Integrators as the market emerges from the COVID-19 crisis. NSCA members offer their biggest takeaways.
Let’s be honest. The biggest takeaway after watching NSCA Chief Economist Dr. Chris Kuehl present on economic outlooks specific to our low-voltage integration industry is: that guy is funny.
Amid the COVID-19 crisis and recovery, it’s probably challenging for Dr. Kuehl to include his trademark dry humor into his economic analysis, but he still managed to deliver some great lines in “Crisis & Recovery: Economic Outlook 2020 for Integrators,” his most recent update to the industry-specific economic outlook he delivered at NSCA’s 22nd annual Business & Leadership Conference (BLC) on Feb. 27, 2020.
A lot has changed since then. At that time, the industry felt confident and safe in knowing the global economy was headed toward slow and steady growth. A month later, when the NSCA community was suddenly faced with an unprecedented challenge (COVID-19) that could impact business for months and even beyond, he delivered an updated economic outlook in an NSCA webinar. In “Crisis & Recovery: Economic Outlook 2020 for Integrators,” Dr. Kuehl presented new data to provide an indication of when the industry will enter “reboot” mode.
In this webinar, Dr. Kuehl, an economist based in Kansas City, leads a discussion to help members get a better handle on potential challenges in the future, how long recovery could take, the impact on our supply chain, leading indicators and trends to keep an eye on, and how we should adapt to the new normal.
Takeaways — Crisis & Recovery: Economic Outlook 2020 for Integrators
Following the webinar presentation, NSCA asked members for their big-picture takeaways:
“His presentations are always insightfully funny. I love Dr. Kuehl’s positive future outlook, especially for 2021. He always compares his previous predictions to the updated ones.” – Jay Rogina, Spinitar
“Contrary to what I see from most other media I follow, I was pleasantly surprised at how optimistic his outlook was with a potential V-shaped recovery. He made interesting observations and predictions based on hard data that supports his economic outlook … I saw him present at BLC a couple of years back, warning us that we would soon be facing a global recession, so this optimism was refreshing to hear. He was correct back then although, as he pointed out in the webinar, he didn’t realize or predict it would be quite this dramatic.” –Tom Murray, Backman Vidcom
“During this unprecedented time, Dr. Kuehl’s data-supported straight talk provides economic insights that inform our business strategies. We learned that indicators for the second half of this year and into 2021 are positive, and which market sectors and verticals are worth pivoting toward based on the economic impact of COVID-19.” –Shedan Maghzi, Avidex
“My biggest takeaway was that this crisis is often termed ‘unprecedented,’ but it truly has all the characteristics of other recessions. Not knowing when it will end is always the main characteristic. So businesses need to utilize the same tools and apply the same fundamentals they always do during a recession.” –Robert Gag, Tierney Brothers
What are your biggest takeaways? Watch the archived webinar and send your reaction to NSCA Director of Industry Outreach Tom LeBlanc.