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Economy in Brief
Wholesale Inventories Grow While Sales Decline
Wholesale inventories increased 0.8% month-on-month (6.9% year-over-year) during October...
U.S. Consumer Credit Usage Expands
Consumer credit outstanding increased $25.38 billion during October...
German IP Takes Surprising October Slip
Germany's industrial production slowed to a gain of only 0.1% in September then dropped by 0.5% in October...
U.S. Trade Deficit Widens to 10-Year High; Record Goods Shortfall
The U.S. trade deficit in goods and services widened for the fifth consecutive month to $55.49 billion in October...
U.S. ADP Private Sector Payroll Growth Eases
The ADP National Employment Report indicated that private nonfarm payrolls increased 179,000 during November...
by Tom Moeller June 2, 2005
May sales of light vehicles reversed all of the prior month's gain and fell 4.5% to 16.67M according to the Autodata Corporation.
Car sales were notably weak following a firm April and fell 7.5%. So far this year the average level of car sales is 1.2% above last year.
Sales of light trucks fell 2.0% m/m to 9.14M. The average of truck sales so far this year is down 2.1% versus the first five months of 2004.
Imports' share of the US market for new vehicles was about stable at 20.5% in May, up from 19.9% in 2004.
Gasoline prices fell to an average $2.10 per gallon during the last week of May, down 8.0% from the weekly high of $2.28 in early April but still up 13.2% from last year's average $1.85.
| Light Vehicle Sales (SAAR, Mil. Units) | May | April | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Total | 16.67 | 17.46 | -5.9% | 16.88 | 16.63 | 16.81 |
| Autos | 7.53 | 8.14 | -4.7% | 7.49 | 7.62 | 8.07 |
| Trucks | 9.14 | 9.32 | -6.9% | 9.39 | 9.01 | 8.74 |
