This forecast appeared in the September 2019 issue of Diesel Progress magazine.
SUMMARY.
The underlying weak conditions in the global economic picture could put
pressure on the North American power generation industry for the remainder of
2019 and through most of 2020. We forecast little or no growth for the industry
through 2020.
Even though the power
generation production market was up slightly (0.9% in 2018-2019), we see it declining
about 1% over the next year.
Tyler Wiegert
For those of you a few
years removed from your high school U.S. History courses, the original Gilded
Age was a period covering the 1870s-1890s that was marked by astonishing
economic growth. Driven by the expansion of industrialization in the North and
West, facilitated by growing railroad networks, real wages grew an enviable
60%.
But Mark Twain dubbed
this period the “Gilded Age” rather than the “Golden Age,” because it was also
marked by extreme poverty, and he represented it with gilded, decaying apple.
The shiny outward appearance of growth was masking a rotten core of massive
inequality.