— An economist with Kansas-based Armada Corporate Intelligence says expectations for a coming recession have softened.
Speaking yesterday during a webinar hosted by the Metropolitan Milwaukee Association of Commerce’s World Trade Association, Chris Kuehl highlighted a “consensus emerging about the possibility of a soft landing” in various global markets.
“As you’re going forward, things don’t look so bad … This is another indicator that we’re not necessarily heading for any sort of really deep decline,” he said. “Real business sales have been climbing since 2020. And they climbed aggressively in 2021. But they kept climbing into 2022, and they’re still climbing.”
Kuehl explained European countries are changing course on their recession predictions following a milder winter than expected.
“The latest data from the EU says that well, some of the worst that we were predicting didn’t happen, we didn’t get the brutal winter … They’re now predicting that they’ve got enough fuel in reserve to get them through April,” he said. “If they get into the spring, they’re good to go … and the consumer in Europe is livelier than they thought they would be.”
He also noted prices distributors are paying to producers have come down recently.
“That’s one of the reasons that we’re not as worried about global inflation, because the [Producer Price Index] has been trending downward now for about four, five months,” he said. “And that’s kind of an indication of a bit of a catch-up when it comes to the supply chain.”
Kuehl added shipping rates have declined as supply chain disruptions are clearing up. He said the cost per container had gotten as high as $24,000 before falling back to between $12,000 and $13,000. Still, that remains twice as high as the previous rate, he said.
He also discussed improvements in trucking logistics, helped in part by many new companies popping up in this space. As many as 70,000 new trucking companies have been launched in the past year and a half, he noted.
“At the beginning of last year, there were 14 loads for every truck on the road, which was a gross undercapacity. And it was making trucking very expensive,” he said. “Now it’s four loads for every truck and the ideal is two. So we’re very close to what is considered ideal or normal.”
— This week’s episode of “WisBusiness: the Podcast” is with returning guest Tom Still, president of the Wisconsin Technology Council.
Still discusses this year’s Wisconsin Governor’s Business Plan Contest, an annual competition hosted by the Tech Council for entrepreneurs in the state.
The contest aims to support early-stage tech startups in Wisconsin, helping founders get connected to a statewide network of mentors, potential investors and peers.
“It’s been something that has really grown or evolved over time,” he said. “Just as the name suggests, it’s about having a good business plan — being able to write one, and present it in a way that makes some sense.”
The Tech Council is calling on entrepreneurs to submit their initial 250-word plans by the end of January. It’s free to apply, and those selected will build on those plans over a five-month period.
Still also weighs in on the trend of more women making it to the later stages of the competition. Over the past nine years, 30 percent of contest entries have come from women, while 132 of the 455 semi-finalists and 73 of the 210 finalists in that period were women.
“I think it’s encouraging, and we’d always like to see it be better than that,” he said. “Just generally, in tech startups, you don’t always see that many women. So it’s good to see we’re seeing more in Wisconsin.”
The podcast also highlights several prior winners and finalists in manufacturing, health technology, wastewater treatment and other industries.
Listen to the podcast here: https://www.wisbusiness.com/2023/wisbusiness-the-podcast-with-tom-still-wisconsin-technology-council-2/
See the full list of WisBusiness.com podcasts: https://www.wisbusiness.com/category/podcast/
See more contest details here: https://govsbizplancontest.com/
— The director of the Green Bay Austin Straubel International Airport is predicting business travel will “consistently increase” throughout 2023.
Passenger traffic at the airport increased 14 percent in 2022 compared to 2021 figures, the airport recently announced.
“We are hearing from local companies that they are taking to the skies once again; they want to meet with customers and prospects in person and they are looking to attend conventions and trade shows,” Airport Director Marty Piette said in a statement.
The release also notes several airlines are adding more flights and increasing the size of planes at the airport.
See more in the release: https://www.wisbusiness.com/wp-content/uploads/2023/01/230125GBairport.pdf
<br><b><i>Top headlines from the Health Care Report … </b></i>
— The Wisconsin Hospital Association has launched an updated version of its PricePoint tool, which helps patients and other users compare prices for health care services in the state.
And state health officials are seeking public input on how the next round of opioid settlement funds should be used.
<i>For more of the most relevant news on COVID-19, reports on groundbreaking health research in Wisconsin, links to top stories and more, sign up today for the free daily Health Care Report from WisPolitics.com and WisBusiness.com.</i>
Sign up here: http://forms.gle/o8FtqTLviGJPja8C9
#TOP STORIES#
# ‘It’s like the Oscars for the food world’: 9 Wisconsin chefs, restaurants named James Beard Award semi-finalists
# Madison looks to change ‘family’ definition in zoning code
# Nurses overworked, doctors disgusted, patients unattended: Inside Columbia St. Mary’s
#TOPICS#
# AGRIBUSINESS
– Wisconsin milk production edges up in December
# ECONOMY
– Metro Milwaukee’s new six-figure jobs: These weren’t $100K jobs before the pandemic, but they are now
# EDUCATION
– UW-Madison launches new center to confront its history of exclusion
– A student-made beer and a Bucks partnership: Marquette’s Lovell delivers annual address
# FOOD AND BEVERAGE
– Barbecue business planned at 3rd Street Market Hall
– New Third Ward restaurant from Benson’s coming to former Wahlburgers
– Benson’s Restaurant Group to take over former Wahlburgers space in Third Ward
# HEALTH CARE
– As La Crosse sees rise in overdoses, doctors warn new drug ‘tranq’ could be a culprit
– Gundersen offering virtual programs for Wisconsinites living with diabetes, chronic pain
# LABOR
– DWD unveils initiative to showcase state’s workforce development efforts
# LEGAL
– Quad/Graphics names new general counsel ahead of exec’s departure
# POLITICS
– Dairy Business Association honors legislators with awards
– Abortion front and center in Wisconsin Supreme Court race
# REAL ESTATE
– Affordable housing proposal takes on larger community issue
– The Buzz: Appleton’s Mr Brews Taphouse is moving away from riverfront into a $2M building
# RETAIL
– Kohl’s lays off 60 corporate employees
– On Broadway district’s 2023 plans include expansion and, yes, movement on a public market
# SMALL BUSINESS
– Urban League, Urban Triage, Black Excellence center receive major funding
# TECHNOLOGY
– Rockwell Automation adding $200 million to its sales outlook amid improving supply chains
– Lake Altoona getting new tech to remove sand, but first must find funding for start-up costs
# UTILITIES
– Rockwell Automation wins contract for First Solar’s $1 billion solar panel plant
# PRESS RELEASES
<i>See these and other press releases:
https://www.wisbusiness.com/press-releases/ </i>
Marquette University: Mitchem Fellow Lecture to discuss Black education spaces, Jan. 31
