The United States automotive industry has been undergoing tremendous changes in recent years. Speakers at a recent Chicago Fed conference explored these changes and considered the road to the future for the auto industry.

The nation’s economic growth will soften slightly in 2006, inflation will decrease, and the unemployment rate will remain stable, according to the median forecast of participants at the Federal Reserve Bank of Chicago’s most recent Economic Outlook Symposium.

In 2007, the nation’s economic growth will soften slightly, inflation will decrease, and the unemployment rate will edge higher, according to the median forecast of the participants at the Federal Reserve Bank of Chicago’s Economic Outlook Symposium.

According to participants in the Chicago Fed's annual Automotive Outlook Symposium, the outlook for 2006 is for the U.S. economy to expand at a rate slightly above its trend, with unemployment edging lower. Since energy prices are expected to moderate, inflation is forecasted to fall this year....

The forecasters expect more moderate economic growth during 2005, with some reduction in activity in the housing sector and a slower pace of consumer spending growth than in the past several years.

The U.S. economy experienced solid growth in 2004, with light-vehicle sales rising to 16.8 million units. What can we expect in 2005 and 2006? At a recent Chicago Fed symposium, auto industry experts came together to analyze the sector’s performance and discuss the outlook for next year and...