ACT Research: U.S. Economy, CV Demand Strong Despite Production Constraints
In the recent release of its Commercial Vehicle Dealer Digest, ACT Research reported that while the U.S. economy and commercial vehicle demand remain strong, so do the constraints that have been hampering production for the better part of this year.
“U.S. GDP growth is projected at 6.2% this year and next. That bullish outlook is predicated on solid freight metrics and consumers who continue to spend at relatively higher rates on goods, as well as millennial demographics, record savings and wealth and pent-up housing demand that all bode well for continued strength in freight-related economic activity,” Kenny Vieth, president and senior analyst at ACT Research, said. “Regarding commercial vehicle demand, medium-duty, heavy-duty and trailer backlogs are essentially filled into 2022, with backlog-to-build ratios well above traditional ranges and inventories below…
