Stable economic growth to continue in U.S.
LAS VEGAS, NV – The U.S. government itself shut down over the weekend, but the overall economy of Canada’s largest trading partner seems to be in good shape. The country’s Gross Domestic Product expanded by 2.3% over the past year. “This is, all in all, a decent number but not an impressive number,” said Bill Strauss, senior economist and economic advisor with the Chicago Federal Reserve. Annual growth experienced in the 1990s was closer to 3-4%. But steady growth like this can be good news, easing the concern about a market correction, he told a crowd at the Heavy Duty Dialogue in Las Vegas. The country is in the midst of its third-longest expansion in history, now in its ninth year.
Bendix adds lines, jobs to Indiana facility
HUNTINGTON, IN - Bendix Commercial Vehicle systems is growing, announcing today that it will expand its Indiana manufacturing plant. The brake company is adding to its manufacturing capabilities and capacity with a USD $3.8 million capital investment in equipment to launch two new production lines. The lines, for making a portion of the company's vibration damper products, will be installed in existing space at the company's module center.
Slow growth for year’s end: FTR
BLOOMINGTON, IN - FTR Intelligence expects the economy to slow down before the end of the year, matching slower freight growth. The company reported improvements to shipping conditions in June over the previous month, but warns that slow contract pricing increases, and a modest weakening of the expected regulatory environment, will mean slower growth and fairly moderate conditions in the short-term.
Bendix reports production increases in June and July
ELYRIA, OH - Bendix Commercial Vehicle Systems reports increased demand at three of its commercial facilities. Last week the company, a member of the Knorr-Bremse Group, which develops and supplies active safety technologies, energy management solutions, and air brake charging and control systems and components for medium- and heavy-duty trucks, tractors, trailers, buses, and other commercial vehicles throughout North America, reported production milestones across all three of its facilities due to increasing orders.