John Wolz

Fastener executives lost confidence in both the global and North American economies. None of the FIN Survey participants gave either the North American or the global economies a “Very High” rating.
At the end of 2008, the global economic confidence index dropped to 2.2, down from 3.0 at the end of 2007 and 3.2 the year before.
The North American Economic Confidence Index fell to 2.1 from 2.7 at the end of 2007 and 3.1 at the end of 2006.
More than two-thirds rated their confidence in the North American economy at “Low” or “Very Low.” The 67.4% easily more than double the 30.9% negative ratings one year ago.
No FIN Survey participants expressed “Very High” confidence in the North American economy, and only 4.2% rated it “High.” Just over a quarter gave the North American economy a “Moderate” rating. In contrast, a year ago a 54.9% majority expressed “Moderate” confidence.
A total of 63.2% held “Low” or “Very Low” confidence levels in the global economy; 29.9% rated their confidence as “Moderate”; and only 2.8% responded “High.”
At 2.3 for both North America and global, distributors are more confident than manufacturers. The primarily domestic producers averaged only 1.9 for North America, and at 2.1 were more optimistic about the global economy. �2009 FastenerNews.com