India and China are entering the world's economic market. It's the most significant event to hit our economy in decades if not centuries. Think of it--half the population of the world, suddenly wanting to buy. |
Overall, their entry into the market will do wonderful things. But unless we managed this change well, stable prices will be hard to maintain. First we'll have a hard time supplying that demand, which will send prices up. Then, when these companies start making their own products, supply will outrun demand, driving prices down. |
The way it will likely play out is, they'll start with (rebuilding) infrastructure, to non-residential and then residential. |
They seem to be managing demand out of China better these days. With steel, (China has) gone from importing to exporting. |
We attribute the upturn in the '90s to a generally more conservative attitude throughout the country and increasing interest in religion. |
We have a remarkably resilient economy. It's taken hits from a hurricane, and increased oil prices, yet seems to still keep going. We've had pressures that heat up and pressures that slow down the economy and consequently, we've ended up with a nice, consistent level. |
We see slippage in retail construction as a function of increases in energy costs, which cuts into discretionary spending. |