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Economy in Brief
U.S. Import Prices Rebound in September; Export Prices Moderate
Import prices rose 0.4% (9.2% y/y) in September...
U.S. Empire State Manufacturing Activity Slowed in October
The Empire State Manufacturing Index of General Business Conditions fell 14.5 points in October to 19.8...
European Car Registrations Rise by 1.1% in September
European new car registrations gained 1.1% in September...
U.S. Producer Prices Moderate Slightly in September
The Producer Price Index for Final Demand rose 0.5% m/m (8.6% y/y) in September...
U.S Initial Unemployment Insurance Claims Continue to Fall
Initial claims for unemployment insurance fell to 293,000 (-64.8% y/y) in the week ending October 9...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller November 4, 2004
Unit sales of light vehicles dropped 3.1% m/m in October to a 16.96M selling rate. Consensus expectations had been for sales of 16.7M.
Sales of light trucks gave back all of September's gain with a 7.3% m/m drop as sweetened sales incentives were scaled back and also as gasoline prices breeched $2.00 per gallon. Domestic light truck sales dropped 9.2% m/m but imported light truck sales rose 6.9%.
Total auto sales rose 2.8% m/m for the second consecutive monthly gain on the strength of a 19.4% rise in imported auto sales. Sales of domestic autos fell 3.7%.
Imports' share of the US market for new vehicles ballooned to 22.1%, the highest since early 1991.
| Light Vehicle Sales (SAAR, Mil.Units) | Oct | Sept | Y/Y | 2003 | 2002 | 2001 |
|---|---|---|---|---|---|---|
| Total | 16.96 | 17.51 | 3.1% | 16.69 | 16.81 | 17.26 |
| Autos | 7.53 | 7.33 | -3.9% | 7.63 | 8.07 | 8.48 |
| Trucks | 9.43 | 10.18 | 8.9% | 9.06 | 8.74 | 8.78 |
