In a recent flash report to its subscribers, forecasting firm FTR Associates reported that “recent data suggests that the worst of the recession is over.”
Although FTR sees the recession gradually moderating, the firm also cautions that the road to recovery is likely to be difficult. FTR is forecasting the economy will stabilize in the third quarter, followed by a moderate recovery in 2010 with Gross Domestic Product growth estimated to rise 2.7%. Nevertheless, FTR’s assessment is that the anticipated slow improvement in the economy means that difficult conditions will persist for some time for commercial vehicle suppliers.
The full North American Commercial Truck and Trailer Outlook is available to subscribers. Contact Eric Starks at [email protected] or 888-988-1699, ext 41 for more information.