2005 COMMERCIAL PRINTING outlook -- A Win-Lose Proposition

The economy as a whole should finish this year up about 4.5 percent and is predicted to grow about 3.5 to 3.7 percent in 2005, the NAPL economist reports. Some moderation is to be expected when an economy has been growing at a robust rate for a period of time, he says. One reason is that the Fed will turn its intention toward keeping inflation in check, which means that more interest rate increases are likely.