Digital Auto Care Factbook 2016 - (Page 5)

NATIONAL DEBT (HISTORICAL) European "Financial Crisis" Improves While Asia Slows and the U .S . National Debt Grows The European "Financial Crisis" improved in 2014 with most of the EU coming out of recession. The German economy experienced overall slow growth in 2014, while China slowed to just over 7 percent growth and Japan finished 2014 in recession. Aside from minor sources of revenue like oil and mineral rights from government lands, over 96 percent of western governments derive the dollars they spend annually from taxation, borrowing, and or inflation. The European debt crisis continued to improve in 2014, but is still burdened by countries like Greece and Italy, which have national debts greater than 125 percent of GDP, respectively. This, coupled with a slowing German economy, is making it difficult for the EU to rebound and have strong long-term economic growth. The real threat to the European economy moving forward is that the implementation of necessary spending cuts is leaving many to believe that tax increases on the wealthy and businesses are needed. If implemented, tax increases will ensure slow economic growth in Europe in 2015 and even the possibility of re-entering a recession. The U.S. national debt as of March 20, 2015 was 18.2 trillion dollars or roughly 107 percent of U.S. GDP in nominal dollars (see chart). In 2015, roughly 17 percent of U.S. federal spending will come from either borrowing or inflationary dollars created by the U.S. Federal Reserve Bank. The U.S. government spent more than 355 billion dollars in 2014 just to pay the gross interest cost of funding our national debt. It is also troubling that government spending at all levels in the United States has gone from less than 8 percent of GDP in 1900 to more than 35 percent today. This summary was prepared by Dr. Timothy G. Nash, Vice President and the Fry Endowed professor in Free market Economics at Northwood University. 2016 Digital Auto Care Factbook Copyright © 2015 Auto Care Association 5

Table of Contents for the Digital Edition of Digital Auto Care Factbook 2016

Auto Care Association Market Intelligence Committee
Economic Indicators
Key Economic Indicators
National Debt
Aftermarket Dynamics
Industry Employment
Technician Employment and Wages
What Do Our Members Think?
BCI Summary
State of the Auto Care Industry
U.S. Motor Vehicle Auto Care Industry
Introduction to the Channel Forecast Model
2014 to 2018 Forecast Assumptions
U.S. Motor Vehicle Auto Care Industry
Auto Care Sales History and Forecast 2007 to 2018
Auto Care Sales by Distribution Channel
Auto Care Segmentation
Auto Care Service and Retail Outlets
Auto Care Service and Retail Outlet Analysis
Program Distribution Summary
Retail Distribution Summary
e-Tailing
Financial Benchmarks
Financial Profiles of Select Auto Care Companies
Select Auto Care Transactions
Auto Care Industry
Consumer Profile
Replacement Rates for Motor Vehicle Parts and Jobs
Top 10 Replacement Rate Categories By Vehicle Age
Auto Care Industry Segments
Medium And Heavy Duty Truck Industry
Sales of Replacement Tires
Tool and Equipment
Paint, Body and Equipment
BodyShop Business Industry Profile: 2013-14
Vehicle Registrations and Usage
U.S. New Motor Vehicle Registrations
Top 10 Light Vehicle Registrations
U.S. Total Motor Vehicle Population
Hybrid Vehicles
Vehicle Operating Costs
Miles Driven vs. Gasoline Affordability
Gasoline Affordability and Fuel Consumption
Crude Oil and Diesel Fuel Costs
State Summary Statistics
State Summary Statistics
Global Auto Care Industry
Global Economic and Automotive Data
U. S. Trade Data for Selected Motor Vehicle Products
U. S. Trade Data By Country
Canadian Auto Care Industry
Mexican Auto Care Industry
Chinese Auto Care Industry
Glossary and Reference
Glossary and Terms
NAICS Definitions
Auto Care Data Resources
Auto Care Data Resources
Auto Care Association Market Intelligence
Auto Care Association Market Intelligence
Auto Care Association – Lang Market Comparison
Harmonization of Auto Care Industry Data

Digital Auto Care Factbook 2016