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Economy to Cruise Near Speed Limit in 2017 and 2018 Even as Auto Sales Downshift

Author

Listed:
  • Thomas Haasl
  • William A. Strauss

Abstract

According to participants in the Chicago Fed?s annual Automotive Outlook Symposium, the nation?s economic growth is forecasted to be near its long-term average this year and to strengthen somewhat in 2018. Inflation is expected to increase in 2017 and to hold steady in 2018. The unemployment rate is anticipated to edge lower to 4.4% by the end of 2017 and to remain at that rate through 2018. Light vehicle sales are predicted to decrease from 17.5 million units in 2016 to 17.1 million units in 2017 and then to 16.9 million units in 2018.

Suggested Citation

  • Thomas Haasl & William A. Strauss, 2017. "Economy to Cruise Near Speed Limit in 2017 and 2018 Even as Auto Sales Downshift," Chicago Fed Letter, Federal Reserve Bank of Chicago.
  • Handle: RePEc:fip:fedhle:00070
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