Fleet Management

Economists Provide 2008 Forecasts at NTEA Summit

November 08, 2007

SHARING TOOLS        | Print Subscribe
Commercial truck sales will experience a slow recovery after the first quarter of 2008, while heavy-duty sales are likely to grow faster next year than medium-duty trucks, according to Stephen Latin-Kasper,
National Truck Equipment Association (NTEA) market data and research director.
Latin-Kasper was one of five leading economists who spoke at the 2008 Business and Market Planning Summit held Oct. 30-31 in Rosemont, Ill. He also predicted moderate interest rates and inflation, low unemployment and increased trade, as well as increased state and local revenues.
In addition to Latin-Kasper, the following economists spoke at the summit: William Strauss, senior economist and economic adviser for the Federal Reserve Bank of Chicago; Mark Vitner, senior economist & director of corporate investment banking for Wachovia Corp.; Martin Labbe, president & CEO of Martin Labbe Associates; and Eli Lustgarten, senior vice president of Longbow Securities and president of ESL Consultants Inc.

Among comments, the economists said:
· Oil prices are near all-time highs, but when adjusted for inflation, they are well below early 1980s prices.
· Home sales peaked about two years ago and should bottom out by the end of the year.
· The U.S. economy's industrial sector is regaining momentum after a slow start for the year and a two-tier recovery is on track.
· A demand for ethanol will be a key factor in the increased demand for farm equipment.

The NTEA, in cooperation with co-sponsor the National Trailer Dealers Association (NTDA), hosted the summit. For a complete recap, visit www.ntea.com, or www.ntda.org.

Comment On This Story

Comment: (Maximum 2000 characters)  
Leave this field empty:
* Please note that every comment is moderated.


We offer e-newsletters that deliver targeted news and information for the entire fleet industry.


ELDs and Telematics

sponsored by
sponsor logo

Scott Sutarik from Geotab will answer your questions and challenges

View All

Sleeper Cab Power

Steve Carlson from Xantrex will answer your questions and challenges

View All