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Reuters Summit-Quotes from the Reuters Manufacuturing Summit


CHICAGO, May 10 (Reuters) - Top manufacturing executives expressed confidence that the U.S. economy will continue its recovery from the worst downturn it has experienced in decades, though they expect slow growth ahead. Below, some of the views of speakers at the Reuters Manufacturing and Transportation Summit in Chicago on Monday: JIM GRIFFITH, CHIEF EXECUTIVE, TIMKEN CO "I call this the SAP recession, because companies have a much better control over their inventories and so our customers did a much better job of reducing inventories immediately when they saw the demand go. And the further back you were on the supply chain, the more that hit you." "We believe the recovery is real. We believe it's modest and we are running the company on the basis that there will be a slow, gradual improvement in the economy. The economists debate is this going to be a V, is it going to be a U is it going to be a W? The best depiction I have heard ... is that this recovery is going to look like the Nike swoosh." BILL PHELAN, PRESIDENT, PAYNET: "The liquidity is there. I think everyone is feeling much more confident about this economy ... It's safe to get back in the water. And so we're seeing expansion. I guess we have to be cautious that we don't all run to the other side of the boat too quickly to cause it start to list to the other side." (Reporting by Scott Malone, editing by Matthew Lewis) Keywords: MANUFACTURING SUMMIT/QUOTES (Boston.Newsroom@thomsonreuters.com; + 1 617-856-4342; Reuters Messaging: scott.malone.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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