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August, No. 241a

According to participants in the Chicago Fed’s annual Automotive Outlook Symposium, the nation’s economic growth in 2007 is forecasted to be slower than in 2006, with inflation rising and the unemployment rate ticking up. Light vehicle sales are predicted to remain steady this year and improve slightly in 2008.

Last Updated: 08/29/2007

Economy in Slower Traffic through 2008 (Special Issue)

Emily Engel , William A. Strauss

The Federal Reserve Bank of Chicago held its fourteenth annual Automotive Outlook Symposium on May 31 and June 1, 2007, at its Detroit Branch. More than 70 economists and analysts from business, academia and government attended the conference. This Chicago Fed Letter reviews last year’s forecasts for 2006, analyzes the forecasts for 2007 and 2008 and summarizes the presentations at this year’s conference.