When FTR Associates president Eric Starks spoke to the TTMA convention May 1, the news was grim. But by in a May 28 flash report to subscribers of the company's market analysis, the company said that “recent data suggests that the worst of the recession is over.”
Although FTR sees the recession gradually moderating, the firm also cautions that the road to recovery is likely to be difficult. FTR is forecasting the economy will stabilize in the third quarter, followed by a moderate recovery in 2010 with GDP growth estimated to rise 2.7%. Nevertheless, FTR's assessment is that the anticipated slow improvement in the economy means that difficult conditions will persist for some time for commercial vehicle suppliers. The full North American Commercial Truck and Trailer Outlook will be available to subscribers on May 28. Contact Eric Starks at [email protected] or 888-988-1699 — Ext 41 for more information.