Are you in the forecasting business? Not the weather, but business. (And isn't everyone from CEOs to entrepreneurs and investors to engineers just doing their best to forecast what the market will need?)
As you well know, the past year has defied expectations, but with a new administration in Washington and vaccines making their way into arms — although slower than anyone wants — Bill Wood has taken his best attempt at anticipating what will happen in 2021. First of all, he has some caveats.
"If [those complexities] sound to you like a VUCA environment — the acronym the military uses to describe the situation on the battlefield — then you are on the right track. This acronym stands for volatile, uncertain, complex and ambiguous," Bill, PN's economics editor, writes.
"I am leaning hard on this acronym as we start 2021, but that does not mean I am advising caution. To the contrary, the current environment requires you to be both bold and smart. And here I emphasize both bold and smart."
He's expecting 2-3 percent in growth for the plastics sector in 2021, but warns things could change.
"It is unusually difficult for me at the moment to predict with a great level of detail just how we get the economic data trending in the right direction even with a gigantic infusion of free money from the federal government," he writes. "But we will do it."