Recent Updates
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Economy in Brief
Philadelphia Fed Factory Conditions Recover; Prices Surge
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rebounded to 25.7 during July...
U.S. Initial Unemployment Insurance Claims Hit Lowest Since 1969
Initial claims for unemployment insurance dropped to 207,000 during the week ended July 14...
Japan's Trade Deficit Swings Back to Surplus (Small Surplus)
Japan's early June trade results show a goods trade position having swung back to surplus in June from deficit in May...
U.S. Housing Starts Weaken Unexpectedly
Total housing starts declined 12.3% (-4.2% y/y) during June to 1.173 million (AR)...
U.S. Mortgage Loan Applications Reverse Earlier Increase
The MBA total Mortgage Applications Index declined 2.5% last week (-12.8% y/y)...
by Tom Moeller May 4, 2005
Sales of light vehicles in April managed to rise 3.7% versus March despite a meager 1.6% gain in sales of light trucks. According to Autodata Corporation total light vehicle sales rose to 17.46M.
Gasoline prices averaged a record $2.24 per gallon last month, up 25% versus a year earlier. In May, gasoline have backed off somewhat from last month's weekly high of $2.28 but the gain versus last year still is 21%.
The rise in sales of light trucks to 9.32M left the average of sales so far this year down 3.5% versus 9.06M during all of 2004. Sales of domestically made trucks rose 1.0% m/m (0.4% y/y) but sales of imported trucks jumped 5.6% (8.4% y/y).
Total auto sales rose 6.1% last month and the gain pulled the average level this year up 2.1% versus last.
Imports' share of the US market for new vehicles rose to 20.6% in April and has averaged 20.2% this year versus 19.9% in 2004.
| Light Vehicle Sales (SAAR, Mil. Units) | April | March | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Total | 17.46 | 16.85 | 5.0% | 16.88 | 16.63 | 16.81 |
| Autos | 8.14 | 7.68 | 9.6% | 7.49 | 7.62 | 8.07 |
| Trucks | 9.32 | 9.17 | 1.4% | 9.39 | 9.01 | 8.74 |
