COMMERCIAL PRINTING OUTLOOK -- Ambiguity is Certain

These short-term challenges have diverted attention away from the more fundamental issue of the outlook for print as a communication medium. For that reason, and others lurking below the surface, there's a taint of bad news even in the good news for 2003.

"At this point in time, it looks like the 2003 economy should perform close to the long-term trend of real (or inflation adjusted) GDP growth of around 3 to 3.5 percent," says Ronnie H. Davis, Ph.D., chief economist at Printing Industries of America (PIA) in Alexandria, VA. In support of this positive outlook, Davis cites the generally favorable expectations for inflation, labor markets and interest rates in the coming year.