Analysts say a slight slowdown in motor vehicle production signals a ‘soft landing’ for the U.S. economy, according to BridgeNews. As measured by a Federal Reserve report released on Wednesday November 15, U.S. vehicle production slumped 7.8% in October while the annual rate dipped from 13.1 million in September to 12.2 million. Overall, U.S. industrial production was down 0.1%, the first drop in three months.

“The softness in manufacturing was largely centred in motor vehicles and that does not point to a widespread economic slowdown,” said Joel Naroff, president of Naroff Economic Advisors.

Excluding vehicle production, manufacturing output rose by 0.5% in October.

Auto market intelligence
from just-auto

• Auto component fitment forecasts
• OEM & tier 1 profiles & factory finder
• Analysis of 30+ auto technologies & more