By Kyle Cheng
The conflict in Ukraine has dominated headlines over the last week, leading to volatility in the commodity and equity markets. The direct impact on the U.S. market is limited, but geopolitical concerns create uncertainty that could impact growth.
According to the most recent “SEMA Industry Indicators” report, the spread of the virus is slowing rapidly and economic activity such as air travel and dining is coming back quickly.
Outside of the Ukraine-related uncertainty, the U.S. economy is holding up well. The spread of the virus is slowing rapidly and economic activity such as air travel and dining is coming back quickly. GDP growth should look good in the coming months.
Consumers are concerned about rising costs and the impact it may have on purchasing power. However, the Federal Reserve is expected to begin raising interest rates in March to attack inflation—although the conflict in Europe may mean they raise rates more slowly.
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 February “SEMA Industry Indicators” report, now available for free at www.sema.org/research.
Also from SEMA Market Research:
SEMA Future Trends—January 2022: In this report, SEMA Market Research provides its outlook for 2022 and beyond for the overall economy, the global supply chain, and the specialty-equipment industry. This report also includes a deep dive into changing consumer demographics and its potential implications for the aftermarket in the future.