Weakening demand for cars and trucks has pushed credit rating company Moody's to cut its outlook for the auto industry from stable to negative.
The company cut its 2019 growth forecast for worldwide light vehicle sales by more than half, saying they won't totally recover from a slowdown in the latter part of 2018. Auto sales are likely to continue falling in the first half of 2019, before regaining lost ground in the last two quarters of the year, Moody's said. It's forecasting a slowdown in global economic growth as well, with stronger growth in developing markets such as China. U.S. sales are expected to drop by nearly 3 percent in 2019 and 0.6 percent in 2020, largely due to a drying up of a financing environment that had buoyed sales for so long.
Source: News Formal (newsformal.com)
Moody's again. Same clowns who recommended subprime mortgages.
wesing4blue It’s the BeBest of winning MAGA 🖕🏽
Just so much winning!
My hope is that this is simply the tides recessing in wake of a huge boom as innovation skyrockets iver the next 5 years.
Everything is falling except the FIXED Stock Market
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