SPRING 2011

110 THE DISTRIBUTOR’S LINK
NEFDA - 30 Hedgerow • Wethersfield, CT 06107 • Phone: 860-529-4539 • email: jfs3@cox.net • www.nefda.com
NEW ENGLAND FASTENER DISTRIBUTORS ASSOCIATION
DR. JEFF DIETRICH ADDRESSES
NEFDA MEMBERSHIP
As part of its purpose to provide a forum for
continuing education of the members NEFDA hired Dr.
Jeff Dietrich a national economist to speak on the status
of the economy and how it relates to the fastener
industry and New England. Dr. Dietrich has spoken to
NEFDA members before and was spot on with his
predictions.
The seminar was held at the Sturbridge Host Hotel
& Conference Center in historic Sturbridge, Mass. A
traditional New England Buffet was served with butternut
squash bisque soup and Boston baked pie; two New
England favorites. Over 50 members attended this
important event
The news Dr. Dietrich told us this time was more
favorable than in 2008. Although that is not to say we do
not have issues to be concerned about.
Here is some of the good news:
1. Leading indicators and capital goods orders are up.
2. Interest rates are low and consumer spending is up.
3. Company profits and global economies are growing.
4. Stimulus has been extended for 2011.
...and some of the bad news:
1. The housing market continues to decline and
foreclosures are up.
2. Credit is still tight with small businesses and pricing
pressures continue from both purchasing and selling.
3. The cost of doing business continues to go up with
health insurance and taxes.
The US total industrial production index increased
5.9% in 2010. The US industrial production to fasteners
& bolt production was up 13.5 % in 2010 and expected
to rise 8.8% in 2011. As talked about above the leading
indicators are up. Consumer debt is declining and
personal savings is on the rise. It is my hope this all
points to a growing economy and creation of more jobs.
From a demographics point of view our population is
growing and expected to reach 500 million. Whereas
China, Europe, Japan and Russia are having negative
demographics. The above is paraphrased from Dr.
Dietrich’s manuscript.
NEFDA has three important events this year:
1. Annual Meeting & Education Seminar April 28th -
Sturbridge Host Hotel & Conference Center
2. Scholarship Golf Outing –June 2nd - Oak Ridge Golf
Club – Feeding Hills, MA
3. Table Top Show – Oct 3rd - Sturbridge Host Hotel &
Conference Center