The Federal Reserve Board provides a monthly index of U.S.production of motor-vehicle parts.According to the Fed,the monthly average for this index (which has a base of 100 for the average month in 2002) through the first half of 2007 is just slightly below 100,which is almost exactly the same as it was in the same period a year earlier.Our forecast calls for this flat (or perhaps slightly downward) trend to continue through the remainder of 2007,but we expect moderate growth in 2008.
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