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Economic Growth to Decelerate in 2019 and Then Ease Further in 2020 as Auto Sales Downshift

Author

Listed:
  • Kelley Sarussi
  • William A. Strauss

Abstract

According to participants in the Chicago Fed?s annual Automotive Outlook Symposium (AOS), the nation?s economic growth is forecasted to slow this year and then moderate close to its long-term average in 2020. Inflation is expected to decline in 2019 and to edge higher in 2020. The unemployment rate is anticipated to move down to 3.6% by the end of 2019, but then tick back up next year. Light vehicle sales are predicted to decrease from 17.2 million units in 2018 to 16.8 million units in 2019 and then to 16.6 million units in 2020.

Suggested Citation

  • Kelley Sarussi & William A. Strauss, 2019. "Economic Growth to Decelerate in 2019 and Then Ease Further in 2020 as Auto Sales Downshift," Chicago Fed Letter, Federal Reserve Bank of Chicago.
    • Handle: RePEc:fip:fedhle:00107
    DOI: 10.21033/cfl-2019-417
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    Keywords

    Automobiles; automobile supplies industry;

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