“June printing shipments were $8.16 billion, down $218 million (or 2.6 percent) compared to June 2007,” said Webb. “On an inflation-adjusted basis, shipments were down $638 million (or 7.3 percent) compared to June 2007.”
Data collected within the past few months indicated it has been a particularly difficult time for the industry. “Even though the recent GDP estimates for the second quarter were positive, corporations are squeezing discretionary spending to cope with rising costs and a worsening inflation outlook,” Webb continued. “Our report indicates that the number of people in graphic design and advertising production were down significantly in June. This is important, because many print campaigns for the fall and holiday shopping seasons are developed in the summer. For this reason, we have decreased our forecasts for the rest of the year, and updated our forecasts through 2013.”
- People:
- Joe Webb
- Places:
- Lexington, Kentucky
- U.S.