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August, No. 253a

A conference summary of the 2007 performance and the 2008 forecast for the automotive industry and the U.S. economy.

Last Updated: 07/24/2008

Economy in Lower Gear through 2008 (Special Issue)

Emily Engel , William A. Strauss

According to participants in the Chicago Fed’s annual Automotive Outlook Symposium, the nation’s economic growth in 2008 is forecasted to be slower than in 2007, with inflation staying high and the unemployment rate rising. Light vehicle sales are predicted to fall sharply this year and then improve in 2009.