FARMINGTON HILLS, MI
— Leading U.S. economists at the Sept. 21, 2005, National Truck Equipment Association’s (NTEA) Economic Outlook Conference agreed that 2006 will be a year of continued growth for the commercial truck and transportation equipment industry. Some of the key findings and predictions by industry experts present at the conference include:
Healthy U.S. economic growth despite rising oil prices.
Continuation of the Federal Reserve to raise rates and that the spread between long-term and short-term rates will remain relatively stable.
An estimated 20 percent growth in truck equipment sales in 2005, and additional growth of five percent to 10 percent in 2006.
Predicted sales growth for Classes 1-8 in 2006, with some concerns regarding heavy-duty truck sales in 2007.