NASSAU, Bahamas—Members of NAHAD: The Association for Hose and Accessories Distribution showed up in force as the group's annual convention opened for business April 29 in Nassau.
Jason Westad, chief sales officer for Force America Inc., presided over the meeting as president for the last year of NAHAD, with more than 800 in attendance. The event continues through May 2, when David Heckler of Alliance Hose & Rubber will take the reins when the annual convention ends.
Westad opened up the meeting and introduced Patrick Luce, an economist with ITR Economics to give his firm's outlook for the coming year and beyond.
Luce said ITR expects small growth in GDP in 2023, followed by a slight drop next year. But Luce said the future economic event to watch for is a deep economic depression sometime in the 2030s. He said ITR for the last decade has been pointing to this downturn, and still holds to the prediction because of the demographics that will be in place at the time.