Contractors that were feeling good about the seeming fiscal security of a two-year federal spending deal had better settle in. There may be economic headwinds ahead.
That’s the word from the Professional Services Council, which is set to kick off Tuesday its 55th Vision Conference — its two-day financial forecast for the government contracting community in 2020 — in Falls Church.
In a preview of the event, officials working with the trade association said Monday that they predict perhaps not a recession in the next year, but likely enough of a fiscal slowdown to rebalance a defense spending focus into the first half of 2021.
“What we think, based on everything we’ve heard and seen, is probably there will be an economic downturn in between 12 to 18 months,” said Lou Crenshaw, founder and president of Crenshaw Consulting Associates LLC, a consulting firm for commercial and government clients. Crenshaw, a 30-year Navy veteran and former partner in the defense and aerospace…Read the full story from the Washington Business Journal.