Forecast Lowered Given Macroeconomic Expectations; Annual Production Decline to Extend Through 2024
US Primary Metals Production Index comprises industries in the Primary Metal Manufacturing subsector smelt and/or refine ferrous and nonferrous metals from ore, pig or scrap, using electrometallurgical and other process metallurgical techniques. Establishments in this subsector also manufacture metal alloys and superalloys by introducing other chemical elements to pure metals. The output of smelting and refining, usually in ingot form, is used in rolling, drawing, and extruding operations to make sheet, strip, bar, rod, or wire, and in molten form to make castings and other basic metal products.
ITR Economics has classified this index as being in phase C of the business cycle. Phase C or “Slowing Growth” occurs when the annual growth rate (12/12) is positive, but the rate of growth is declining. We denote this phase with yellow (for caution).
US Primary Metals Production transitioned from phase C to phase D in Q4 2022. Phase D, or “Recession” occurs when the annual growth rate (12/12) is declining, and the rate of growth is negative. We denote this phase with red (for warning). US Primary Metals Production will continue in phase D through Q2 2024 giving way to phase A in Q3 2024. Phase A or “Recovery” occurs when the annual growth rate (12/12) is rising, but the rate of growth is still negative. We denote this phase with blue (for improving).
ITR Forecasts the annual growth rate for 2022 at -0.4%, -4.3% in 2023, and -7.0% in 2024.
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To all ISA Members and ISA Atlanta 2020 Attendees,
After continuous monitoring of the evolving situation with the novel coronavirus (COVID-19) and much deliberation, the Industrial Supply Association (ISA) is announcing today that the ISA Board of Directors have voted to cancel ISA Atlanta 2020 scheduled to take place April 20-22 in Atlanta, Georgia. Everyone at ISA understands and appreciates the time, effort, and resources that you have put into preparing for this event. Like you, we have been working hard, and were looking forward to coming together to Engage, Learn and Lead.
This decision was made after careful review of the most recent facts from the Centers for Disease Control (CDC), World Health Organization (WHO), the Georgia Department of Public Health and other local authorities. Ultimately, the health, safety and well-being of our members, management team and the community at large led to this decision. Although difficult, as this decision comes at a significant cost to ISA which is a nonprofit, we know it’s the right thing to do.
With that in mind, it’s important to note that ISA is YOUR ASSOCIATION and ISA is OUR INDUSTRY. With over 118 years of history, our mission is to provide the strategies and tools to help companies remain relevant throughout industry change. This global pandemic, combined with the accelerating disruption we all are facing, demonstrates now more than ever the need for ISA to continue its pursuit of Leading the Channel Forward®.
The good news is that we have the financial strength to weather this storm. We plan to access our financial reserves to make that happen. These reserves are intended to protect ISA in times like this and for investing in value added programs that benefit ISA members and our industry.
With this decision, we are prepared to refund 100% of all registration, booth and sponsorship fees. However, recognizing the significant impact on our reserves, we are asking for your consideration in donating your registration, booth fees and/or sponsorships to the ISA Foundation, all or in part, at the level your organization is able to support. Foundation funds will only be used for education, research and/or scholarships and your organization will be recognized as a supporting patron of the Foundation helping ISA continue its mission critical purpose. Your donation will help continue the momentum and fuel the future of the Industrial MROP Channel. We recognize the magnitude of this ask, but if each company can help in some way, together, we will strengthen ISA, our community and industry overall.
In the coming weeks, a member of the ISA team will contact all ISA Atlanta 2020 participants to discuss refunds and or donations. Due to the large number of companies and attendees we ask for your patience as we begin this process. This is a priority and will be given the urgency it deserves.
In closing, I would like to thank everyone that has reached out with overwhelming support and positive feedback regarding the path and mission we are on. To all, please keep an eye out for upcoming announcements regarding the Lifetime Achievement Award, Innovation Impact Awards, Phase 2 Analytics for Distributor, Manufacturers and IMRs, Scholarships and so much more.
On behalf of the ISA Board of Directors, I would like to thank you for your patience throughout this decision-making process and your commitment to your association – ISA.
Stay up to date with the latest information we have here.
Cancellation Policy for Registration:
The Emerging Leaders Virtual event will be recorded and available for thirty days after September 2nd 2020. Due to the virtual accessibility of this summit, no refunds will be issued if you are unable to attend the live event.
Cancellation Policy for Registration:
The Women in Industry Virtual Summit 2020 will be recorded and available for 30 days after the event. Due to the virtual accessibility of the event no refunds will be issued if you are unable to attend the live event.
Cancellation Policy for Registration:
Economic Guidance: Gearing Up for Growth Webinar will be recorded and available for 30 days after the event. Due to the virtual accessibility of the event no refunds will be issued if you are unable to attend the live event.
First-Time Attendee Non-Member Rate Policy
This policy is for first-time attendees whose company has never been an ISA member or, whose company has not been an ISA member for the past 3 years.
Defining “First-Time”:
First-time denotes the company and not the individual person who is attending.
A company who has been an ISA member within the past three years would first need to renew their ISA dues before registering their employee(s) for the event.
Occurrence:
A non-member company may attend two ISA events during one 12 month period (Jan – Dec) at the non-member rate.
Before registering for any additional events your company will need to renew or join ISA.
Emerging Leaders Hot Pass
Emerging Leaders All Access Pass
Member Rate Policy
To qualify for member rates, 2020 membership dues must be paid.
Non-exhibiting Rate Policy
Non-exhibiting rate is for the first attendee only – any additional attendees, see the Member or Non Member rates.
