GlobeSt.com: How will an economic downturn impactthe sector over the coming year?
Moore: If you look at history, it shows us thatthe industrial market does move largely in sync with the generaleconomy. It's less sensitive to job growth. It's more a reflectionof what's going on with the economy and economic activity. That'stypically the way it goes.
What this year has taught me is that industrial is more tied inwith the housing market than I gave it credit for. That's my excusefor getting our 2007 forecast wrong. We were largely right. Wherewe were off was on the demand side. If you ask why we were off, I'dhave to say it was housing. I've got a list of 10 indicators that Ilook at that I believe significantly influence the industrialmarket, and housing is on there. We track a multitude of housingdata.
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