HARDI Economist Andrew Duguay discusses trends in the Western Region Forecasting Seminar at the 2011 HARDI Western Region Conference.

1. HARDI The Recovery - How Long and How Fast West Region Forecasting Seminar March 2011 Presented By: ITR Andrew Duguay

2. US Industrial Production to Gross Domestic Product3/12 Rates-of-Change ITR Trends Report

3. 3 Employment – Private SectorAnnual Data Trend ITR Trends Report

4. HARDI Member Sales to US EconomyYear over Year % Change HARDI T.R.E.N.D.S. Reports

5. 5 HARDI West Region Sales GrowthYear-Over-Year % Growth HARDI T.R.E.N.D.S. Reports

6. Foreclosure Rates by State RealtyTrac.com

7. Alaska and Hawaii HARDI T.R.E.N.D.S. Reports

8. Washington and Oregon HARDI T.R.E.N.D.S. Reports

9. Montana, Idaho and Utah HARDI T.R.E.N.D.S. Reports

10. Nevada and Arizona HARDI T.R.E.N.D.S. Reports

11. California HARDI T.R.E.N.D.S. Reports

12. 12 West Housing PermitsRates-of-Change Forecast 2011 -4.0% 2012 12.0% HARDI T.R.E.N.D.S. Reports

13. Accuracy of ITR’s Forecast 2009 Permits: 99.3 thousand HARDI T.R.E.N.D.S. Reports

14. Accuracy of ITR’s Forecast 2009 Construction: $8.8 billion HARDI T.R.E.N.D.S. Reports

15. 15 West Commercial ConstructionRates-of-Change Forecast 2011 -1.4% 2012 11.6% HARDI T.R.E.N.D.S. Reports

17. Better 2012 and 2013

18. Housing market will not be a quick fix

19. Fundamentals remain positiveHARDI T.R.E.N.D.S. Reports

20. For any additional follow-up questions please contact: Andrew@itreconomics.com 603-796-2500

22. Consumer Price Index to Crude Oil Futures Prices12/12 Rates-of-Change End of 2010 Copper 46.0% Aluminum 30.0% Iron Ore 63.0% Gold/Silver 26 & 37% Forestry 24.0% Agriculture 38.0% Cotton 83.0% 28.7% ITR Trends Report

23. Nondefense Capital Goods New Orders w/o AircraftBillions of $ 12/12 3/12 3MMT 12MMT ITR Trends Report