The ride continued during the months of July and August when manufacturing slipped and the talk at trade shows became one of, "Wait until next year." Nevertheless, recent anecdotal evidence seems to show that many of the quotes that were requested earlier this year will come to fruition during 2003 -- especially in some key equipment areas.
In its third annual spending survey, Quality magazine saw bright spots in the spending plans for 2003. Despite a projected 15% decrease in overall spending from 2002 levels -- $2.9 billion during 2002 vs. $2.5 billion for 2003 -- the forecast shows plenty of reason to be excited.