Detroit's Auto Giants Reel As UAW Strikes Bite Hard

One week ago, when previewing the three events that are about to slam U.S. GDP in the tail end of the 3rd and the 4th quarter (including the return of student loan payments, the UAW strike and the government shutdown), Goldman calculated that reduced auto production from a potential UAW strike would reduce quarterly annualized growth by 0.05-0.10% for each week it lasted, if all three companies currently undergoing contract negotiations are impacted. "Those three companies—Ford, GM, and Stellantis—produce almost half of domestically-assembled…