High Fuel Prices Could Slow Global Economy

According to transportation executives, the forecasts and business strategies of carriers and manufacturers of transport-oriented capital goods indicate the industry is bracing for an era of higher energy prices and increased regulations.

These are just some of the key findings found in “Transportation Outlook” (cit.com/TransportationOutlook), a new study released today by CIT Group Inc. (NYSE: CIT) cit.com, a leading provider of customized leasing and financing to end-users of aircraft, locomotives, railcars and ships. The study was conducted by Forbes Insights on behalf of CIT.High Fuel Prices Draining Global Economy.

Key findings include:

* 80% Say Higher Fuel Costs Reducing Global Economic Growth
* 81% Say Uncertainty Around Energy Policies Hampering Economic Recovery
* 79% Say Regulatory Actions Are Forcing Their Companies to Increase Spending on Capital Equipment
* 77% of Manufacturers Working to Develop More Energy-Efficient Vessels, Trucks and Rolling Stock

“This study highlights the fact that transportation executives are preparing for a future of uncertainty, both in terms of fuel prices and regulations,” said Jeff Knittel, President of CIT Transportation Finance. “In doing so, they are implementing strategic business plans in response to the potential for a protracted era of higher energy costs and growing concern regarding current and proposed emissions regulations.”

Category: General Update