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The Weekend Economic Wrap up * USA - 20 percent decline in heavy-duty truck production
Washington,DC,USA -Manufacturers' Blog -Feb 18, 2007: -- Last Thursday, the Federal Reserve released its report on industrial production for the month of January. The report showed that overall industrial production fell by 0.5 percent in January. The manufacturing component, which accounts for more than three quarters of industrial output, declined by 0.8 percent...the fourth decline in the past five months... Despite solid gains in aerospace and computer and electronics production, the January downturn was led by a 1.3 percent decline in durable goods production. The cause? A precipitous 20 percent decline in heavy-duty truck production -- the largest monthly decline in 16 years --, probably resulting from new regulatory standards for trucks that went into effect January 1, was largely responsible for the January downturn... In recent years, heavy truck production has been increasing at double-digit rates. Industry has been forward buying trucks in advance of the new 2007 EPA regulation, which makes trucks more expensive. I expect we will see continued downturns in truck production going forward in the year...
Labels: production
posted by Unknown @ 10:47 AM
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