Where is the economy headed? Georgia Foley, executive director of the Specialty Tools & Fasteners Distributors Association, cited contradictory economic reports: “One report is positive, then the next day, you’ll read one that’s negative. Who to believe and what to believe is nearly impossible.

“Despite the serious impact the recession had on STAFDA members, many have emerged leaner, more flexible and tapped into markets they didn’t consider in the past,” Foley finds. In her annual report to STAFDA members, Foley cited estimates that nearly a million construction workers are out of work or employed in another industry. 

Foley cited a National Association of Manufacturers September report showing manufacturer concerns ranked in the same order as STAFDA members: 1. Uncertainties in political climate, including fiscal problems and budget cuts; 2. Rising health care costs; 3. Business climate of taxes and regulations; 4. Rising energy and raw material costs; 5. Quality work force; 6. Weaker global growth and export sales; 7. Access to financing. 

In a NAM and National Federation of Independent Businesses survey, 62% of respondents said, “U.S. laws, regulations and taxes affect their companies more negatively than foreign competition.

“But despite all the negative, there is some good,” Foley finds. Many are predicting double-digit growth for 2013. 

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Fourth quarter sales rose 9.1% and for the full year of 2012 sales were up 11.6%, according to distributors participating in the Specialty Tools & Fasteners Distributors Association Q4 '12 Trend Report.