The three-month period from September through November is the most important of the printing calendar year. That period in 2007 should be a little better than last year, based on our employment indicators. There are 2,600 more printing production employees when compared to September 2006, and that would imply a +0.5% increase in shipments compared to last year. That projects September's shipments at about +$45 million more than September 2006, and perhaps more, breaking the $9 billion mark, which has not been reached since last October. We'll know for sure in a few weeks.

Also encouraging is the fact that graphic design and ad agency employment is up by 6,200 workers when comparing August 2006 and 2007. Remember, most fall campaigns that are printed are designed in the summer, so this is an additional confirmation that printing shipments are more likely to be up and not down. We do need to keep in mind that creative personnel are working in other media as well.

We should not get too far ahead of ourselves, however. The industry is still not keeping up with the economy, though we're still relieved to not be declining like we were. Ah, but that's Dr. Doom speaking again.