According to ACT Research’s recently released Transportation Digest, COVID-19 is just one of several factors that could impact commercial vehicle forecasts now and in the foreseeable future.
In recognition of the virus’ impact, ACT Research has created an easily accessible COVID-19 MARKET WATCH webpage to track noteworthy high frequency macroeconomic and transportation-specific market indicators, which can be found at https://pages.actresearch.net/covid-19.
The report, which combines proprietary ACT data and analysis from a wide variety of sources, paints a comprehensive picture of trends impacting transportation and commercial vehicle markets. This monthly report is designed as a quick look at transportation insights for use by fleet and trucking executives, reviewing top-level considerations such as for-hire indices, freight, heavy and medium duty segments, the US trailer market, used truck sales information, and an overview of the US macro economy.
“The general trend of the COVID contagion curve through July was rising, but in early August newly reported cases were dropping, according to Johns Hopkins,” said Steve Tam, ACT’s Vice President. He added, “In general, we are seeing favorable COVID trends in international economies, as well. That said, until we have a permanent cure for, or way to control, the coronavirus outbreak, that will remain the biggest risk to the commercial vehicle forecast in the short- and long-term.”
Tam continued, “However, we don’t wish to ignore the other risks in the business environment that are easy to overlook because of the prominence of COVID. One obvious threat is the increasingly tense bilateral relationship of the US and China, and another is the outcome of November’s election.”
On the upside, he noted, “We’re seeing promising levels of activity in key goods-producing and goods-distribution industries that drive motor freight and logistics, such as manufacturing, construction, and wholesale/retail trade, with e-commerce carrying the load in distribution.”
ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.