The Valve Manufacturers Association annual Market Outlook Workshop was held Aug. 24-25 in Chicago. Many of those addressing the crowd of valve and pump manufacturers predicted a softening of the economy in the later part of 2006, though Alan Beaulieu from the Institute for Trend Research believes the second half of the year would end on a positive note. However, Beaulieu cautioned, manufacturers should prepare for a recession that is likely to start in mid-2008 and continue until 2010.