Households and businesses purchased light trucks – pickups, SUVs and mini-vans – at an annualized rate of 6.4 million units in October, the highest level since August 2008. The performance broke through the elevated levels of late 2009 when the cash-for-clunkers program was in effect. Many analysts view light truck sales as a leading indicator of confidence among small businesses, which need the vehicles to service their clients as reported in a recent article by the AP. The increase in light truck sales coincides with an increase in optimism among small businesses according to the latest report from the National Federation of Independent Business, though the index remains depressed. Small business growth will help drive the economic recovery over the next two years.
No comments:
Post a Comment