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SEMA eNews, Vol. 22, No. 24

SEMA eNews, Vol. 22, No. 24

Industry Indicators: Economic and Trade Uncertainty Persists, But U.S. Economy Remains Resilient

While the economic picture has worsened, higher tariffs are increasing uncertainty and global growth is slowing, although it doesn’t yet appear to be enough to push the U.S. economy into recession. The overall economy added just 75,000 new jobs in May, but unemployment remained at a 50-year low of 3.6%. Likewise, consumer sentiment remains incredibly favorable. May is just the fifth month to see the index breach 100 since the year 2000. Additionally, personal income and consumer spending are both up from last year. However, concerns about tariffs appear to weigh heavily on consumers.

New-vehicle sales bounced back in May, increasing 5.9% from April. However, sales remain relatively weak this year. Much of the weakness stems from passenger cars, while sales of new SUVs and pickups are up.

To learn more, download the June “SEMA Industry Indicators” report, now available for free at www.sema.org/research.

The “2019 SEMA Market Report” is now available from SEMA Market Research. This report provides a comprehensive look at the specialty-equipment industry, including how they’re purchased and installed, information on part buyers, key industry forecasts, vehicle registration data and much more. Download the “2019 SEMA Market Report” for free today at www.sema.org/research.

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