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ACT Research: Anticipating inbound recession, September forecasts unchanged

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ACT Research: Anticipating inbound recession, September forecasts unchanged
In the release of its Commercial Vehicle Dealer Digest, ACT Research reported essentially unchanged forecasts from last month.

COLUMBUS, Ind. — In the release of its Commercial Vehicle Dealer Digest, ACT Research reported essentially unchanged forecasts from last month. Demand remains healthy, production remains constrained, and freight rates and volumes managed to squeak out small improvements compared to August.

The report, which combines ACT’s proprietary data analysis from a wide variety of industry sources, paints a comprehensive picture of trends impacting transportation and commercial vehicle markets.

“We’re hardly at the ‘living on a prayer’ stage when it comes to our outlook, but as the old investing maxim goes, don’t fight the Fed,” said Kenny Vieth, ACT president and senior analyst. “We believe wage inflation needs to moderate before the Fed can begin turning away from tighter monetary policy. As long as the jobs reports remains strong, the harder it may be to tame wage inflation — which may lead to more-aggressive-for-longer rate hikes and worse than expected economic outcomes. As it has been for several months, a mild recession centered in early 2023 remains our base case.”

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The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.
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