SEMA eNews Vol. 23, No. 4, January 23, 2020

SEMA Industry Indicators: The U.S. Economy Enters 2020 on Strong Footing

By Kyle Cheng

  Industry Indicators
The monthly “SEMA Industry Indicators” report provides a snapshot of the overall economy and automotive specialty-equipment industry.
   

The United States enters 2020 on strong economic footing. The economy continues to grow—its longest period of expansion in history. Trade tensions appear to be easing and the odds of a recession this year continue to decrease. Likewise, consumers are confident and spending their money. While overall total vehicle sales are slightly down, consumers are spending more on cars than they ever have.

Amid this optimism, there are some concerns, particularly in the manufacturing sector. However, improving trade relations should help spur exports and reignite manufacturing in the year ahead.

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 automotive specialty-equipment 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 January “SEMA Industry Indicators” report, now available for free at www.sema.org/research.

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