By Kyle Cheng
According to the latest “SEMA Industry Indicators” report, the U.S. economy continues to grow, but at a slower rate with GDP growth for the third quarter of 2019 at only 1.9%.
The U.S. economy continues to grow, but at a slower rate with GDP growth for the third quarter of 2019 at only 1.9%. Yet, the economy maintains underlying strength and momentum remains. While further slowing is likely next year, recession is not as big of a fear as it once was. Consumer sentiment remains relatively high, and at least for now, consumers appear to be more focused on income and job growth than on global economic uncertainly. The labor market likewise remains solid.
Want more information on the trends affecting the specialty-equipment industry? Check out the “SEMA Industry Indicators” report each month to learn how movements in the broader economy may impact your business strategy. In this report, published monthly, you’ll get a snapshot of the overall economy and our industry, including:
- Overall economic outlook.
- New vehicle sales and statistics on auto parts production.
- Consumer sentiment and spending.
- Economic growth and unemployment.
- Other important industry insights.
To learn more, download the November “SEMA Industry Indicators” report, now available for free at www.sema.org/research.