Net orders for Class 8 vehicles continued to surge in January and, despite a modest falloff, commercial trailer orders remained strong. Continued strong demand for equipment indicates trucking fleets are ramping up replacement of vehicles, which has largely been deferred the past two years.
The latest release of the ACT North American Commercial Vehicle Outlook, shows a continued economic recovery supporting the current order trajectory.
"The initial wave of data for February reinforces our assessment of the January figures and enhances our belief that a self-sustaining recovery is underway in the USA," said Sam Kahan, ACT's chief economist. "We expect 2011 real GDP growth to average 3.5% on a year-over-year basis; this is toward the upper end of the forecasters range."
More info: www.actresearch.net