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Chicago Fed Honors NADA Chief Economist for Auto Industry 'Top Forecasts'
McLEAN, Va. (June 7, 2006) - NADA Chief Economist Paul Taylor was honored for the auto industry's top overall forecasts at the 13th Annual Automotive Outlook Symposium, hosted by the Federal Reserve Bank of Chicago, on June 1-2.
Taylor also landed in the top forecasting group for the key subcategories, "Car and Light Vehicle Sales" and "Personal Consumption Expenditures."
"I'm grateful to receive this recognition from such a distinguished institution,” said Taylor. “And I'm thankful to the Chicago Federal Reserve Bank for its leadership in research on light vehicle production and retail sales."
The Automotive Outlook Symposium is attended by experts from vehicle manufacturers and parts suppliers, as well as distinguished research and academic organizations. The symposium is organized by Chicago Federal Reserve Bank Senior Economist and Advisor William Strauss. The event also brings together forecasters and researchers at the Detroit Branch of the Bank, located at the center of U.S. light vehicle production.
Taylor has earned a reputation as one of the country's leading analysts of the automobile industry and U.S. economy. He has accurately projected new vehicle sales for the past three consecutive years. Taylor projects that sales this year will remain close to 2005 levels, 16.9 million, but edge down slightly to 16.8 million.
For more information on auto industry trends from NADA's Industry Analysis Division, go to www.nada.org/nadadata.