SEMA Industry Indicators: Pace of U.S. Economic Growth Slowing, But Outlook Remains Positive
By Kyle Cheng
“Good, but not great” sums up the economic news over the past month. The year closes with solid economic growth—a phenomenal year perhaps, given how far the United States is in the current economic expansion. Deregulation and tax cuts continue to support the labor market through job gains and wage growth. Likewise, November retail sales show consumers bought with gusto over the holidays.
At the same time, many indicators show signs of slowing (but not slow) economic growth. Trade uncertainty and weaker markets globally continue to weigh down the United States economy. Yet, while the pace of growth is slowing, a recession isn’t in clear view yet.
Want more information on the trends affecting the specialty automotive aftermarket? Check out SEMA’s December “Industry Indicators” report to learn how movements in the broader economy may impact your business strategy.