Final numbers are in and August was a good month for Classes 5-8 truck orders, ACT Research reports.
However, the industry forecaster said a lack of sustained economic growth is proving to be a drag on Class 8 demand, and build expectations have been curtailed over the past two months. Orders continue to be placed with short lead times, ACT reported.
"An added short-term challenge for the economy is the upcoming budget and debt ceiling negotiations in Congress," said Kenny Vieth, president and senior analyst at ACT Research. "Heightened political uncertainty leads to corporate risk aversion. Until Congress works through these issues, business investment is likely to be cautious."
For the medium-duty sector, strong orders in August coupled with a pullback in production pushed the backlog/build ratio to its highest level in nearly two years at 2.6 months, ACT says.
