Component shortages, strikes, and special interruptions associated with new
model changeovers took a toll on light vehicle assemblies in recent months.
Ongoing difficulties at one large automaker may further constrain output in
the fourth quarter.
Supply considerations do not explain all of the slowdown since early 1994,
however. Total Iightvehicle production peaked in February, the same month
in which short-term interest rates began to rise and the S&P 500 reached a
peak. A sharp slowdown in mortgage refinancing and a flattening out in con-
sumer confidence have also let some of the steam out of growth in vehicle
demand. Even so, sales and production remain at high levels, and most indus-
try participants remain optimistic about their prospects for 1995.
Sources: The Midwest Manufacturing Index
(MMI) is a composite index of 15 industries,
based on monthly hours worked and kilowatt
hours. IP represents the Federal Reserve Board
industrial production index for the U.S. manu-
facturing sector. Autos and light trucks are
measured in annualized physical units, using
seasonal adjustments developed by the Board.
The purchasing managers’ survey data for the
Midwest are weighted averages of the seasonally
adjusted production components from the
Chicago, Detroit, and Milwaukee Purchasing
Managers’ Association surveys, with assistance
from Bishop Associates and Comerica.
IIIS-SSg (SIg)
W80^06909 sɪouɪɪn ‘oSeoiiq
K'8 x°9 Od
jəiuəɔ uopeurɪojuɪ a∏qnj
OOVDIHD JO HNVT JΛHJS3H TVHTQ JJ
jədə j рэд ()neɔɪt(ɔ
More intriguing information
1. Spatial patterns in intermunicipal Danish commuting2. Parent child interaction in Nigerian families: conversation analysis, context and culture
3. Developmental Robots - A New Paradigm
4. PROJECTED COSTS FOR SELECTED LOUISIANA VEGETABLE CROPS - 1997 SEASON
5. Assessing Economic Complexity with Input-Output Based Measures
6. INSTITUTIONS AND PRICE TRANSMISSION IN THE VIETNAMESE HOG MARKET
7. New Evidence on the Puzzles. Results from Agnostic Identification on Monetary Policy and Exchange Rates.
8. An institutional analysis of sasi laut in Maluku, Indonesia
9. The name is absent
10. Do imputed education histories provide satisfactory results in fertility analysis in the Western German context?