![]() ![]() Over the course of 2023, we have seen a significant downward shift in the percentage of dealers who cite a lack of inventory as a reason for not selling more gen-sets. In the Power Systems Research PowerTracker syndicated survey, we speak with 200 gen-set dealers each quarter. The supply chain issues affecting the production of gen-sets appear to have greatly eased compared to one year ago. ![]() Nonetheless, consumers do not seem to be wary of the economy overall, even with a series of interest rate hikes over the last two years to help curb inflation. ![]() Demand continues to remain strong for new automobiles but one could argue that we have pent-up demand due to a couple of years of low inventory, thus supporting the shorter-term demand strength. On the consumer end of things, a useful barometer for recession is to observe trends in the auto industry. From all respects, the outlook within the power equipment industries in North America was quite positive, with more of a focus on forging ahead and working through existing supply chain constraints. We went to trade shows and visited industry participants and concerns of a slowdown due to recession were really on the backburner, if even mentioned at all. Before we knew it, we were into the second quarter and there were not the signs of recession that onewould traditionally associate with a pullback or downturn in the economy. Looking at the recession topic, I know I had an uneasy feeling of “when is this recession going to rear its head” as we entered 2023. ![]()
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