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Contact: David Walker
866/342.5642, ext. 153
dwalker@glass.org

LEADING ECONOMIST ADDRESSES 5th ANNUAL NGA GLAZING EXECUTIVES FORUM
Dietrich Offers Latest Forecast, Implications for Glaziers

Las Vegas, NV (September 14, 2010) - Speaking to the highly attended 5th Annual NGA Glazing Executives Forum, Jeff Dietrich’s highly anticipated economic forecast, which was given in conjunction with GlassBuild America: The Glass, Window and Door Expo, set the tone for the day’s incisive breakout sessions and panel discussions among nearly 150 of North America’s leading glaziers.

“The general mood among consumers and business leaders continues to be one of confusion, uncertainty and caution” began Jeff Dietrich of the leading economic forecast group Institute for Trend Research. “The economic news seems depressing – stagnant high unemployment, limited credit, diminished wealth, a soft construction market with high vacancy rates and too much inventory, consumer debt, rising national debts and deficits raising the specter of higher taxes/fees - and a national leadership that appears to be short on options for what to do next.”
Dietrich, one of the most popular speakers at previous NGA events, offered up his most up to date economic forecast for the nation. “The question that continues to rattle around is; “Will this recovery last?” The short answer is “Yes.” The follow-up question is, “What about a double dip?” The Institute for trend Research (ITR) has consistently said, “A W-shaped recession is not in our forecast. An unusually mild recovery is. Dr. Ben Bernanke of the Federal Reserve Bank now seems to agree with ITR.” remarked Dietrich.

He emphasized that glaziers have a ways to go. But light is at the end of the tunnel. “The commercial construction market is the caboose of this economic recovery. We expect the cyclical low to come in this quarter, followed by a similarly slow recovery through 2011. Office vacancy rates, at 17.4%, are at a 17-year high and net absorption of office space remains negative. The combination of a glut of commercial real estate and “demand contraction” caused by constrictive credit and diminished asset values is leading to low levels of new construction. Apart from those with government contracts, the recovery in commercial real estate is not expected to see much relief/growth until 2012” outlined Dietrich.

Jeff Dietrich gave his economic overview for 2011 and beyond and how it impacts glazing executives. “Yes, there are real challenges that threaten to undermine consumer spending and business growth. But at this time, the leading indicators, extant economic activity, consumer trends, cuts in spending and ITR’s cyclical theories offer a view consistent with a mild recovery in North America” Dietrich noted.

Dietrich concluded with some optimism: “This recovery will have many bumps and some bruises along the way. Be proactive anyway. There are excellent opportunities to gain market share at this point in the business cycle.”

For a list of upcoming speakers and seminars at GlassBuild America®: The Glass, Window & Door Expo, which lasts through September 16 at the Las Vegas Hilton Convention Center, Las Vegas, NV , please visit www.GlassBuildAmerica.com.

About NGA
Founded in 1948, the National Glass Association is the largest trade association representing the auto and architectural glass, and window and door industries. Based outside Washington, DC, and representing nearly 3,000 member companies and locations, NGA offers certification and education and training, including MyGlassClass.com and MyWindowClass.com – state-of-the-art online training resources. NGA publishes the industry’s leading trade magazines: Glass Magazine® and Window & Door®; and e-newsletters: e-glass weekly™, WDweekly™, and For Technicians Only e-bulletin™. In addition, NGA serves the industry and general public with its Web sites: glass.org, GlassBuildAmerica.com, GlassMagazine.com, WindowandDoor.com, MyAutoGlass.org, and WDDAlliance.org. NGA also hosts the industry’s premier annual trade event: GlassBuild America: The Glass, Window & Door Expo®. The Window & Door Dealers Alliance, an organization for independent window and door dealers, is an initiative of the NGA. For more information on NGA, visit www.glass.org.