By Kyle Cheng
Check out the “SEMA Industry Indicators Report” each month to learn how movements in the broader economy may impact your business strategy.
A lot has happened in the last 30 days, and a lot more will over the next few months. Due to the availability and lag in government economic data, the true effects of the coronavirus won’t start to be realized until next month’s “SEMA Industry Indicators Report.” That said, economic data through February actually looked pretty good—if only it was still February.
What started as a supply disruption (given production closures in China) has quickly become a demand disruption (as consumers are staying home). The depth of this demand falloff remains to be seen and we will start to get glimpses of its true effects in the coming months. With individuals traveling less, auto sales are likely to be significantly weaker through 2020. Only time will tell.
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 March “SEMA Industry Indicators Report,” now available for free at www.sema.org/research.