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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 January 4, 2007
In December, U.S. sales of light vehicles rose 4.4% from the prior month to 16.75M units, according to the Autodata Corporation. The rise was to the highest level since July.
For the full year of 2006, however, vehicle sales fell 2.4% to 16.55M, the lowest level since 1998.
Improved domestic car sales lifted December vehicle sales with an 11.4% (3.8% y/y) gain but for the year domestic auto sales fell 1.4% versus 2005. Sales of imported autos also were strong last month and posted a 6.1% (8.5% y/y) gain and for the year rose 8.7%.
Imported light truck sales also rose 1.9% (19.0% y/y) last month to 1.51M units and for 2006 rose 14.4%.
Domestic light truck sales slipped for the third consecutive month. The 0.5% decline to 7.14M units (-12.4% y/y) still, however, garnered 84% of the U.S. market for light trucks during 2006.
| Light Vehicle Sales (SAAR, Mil. Units) | December | November | Y/Y | 2006 | 2005 | 2004 |
|---|---|---|---|---|---|---|
| Total | 16.75 | 16.04 | -2.1% | 16.55 | 16.96 | 16.87 |
| Autos | 8.09 | 7.38 | 5.3% | 7.77 | 7.65 | 7.49 |
| Trucks | 8.65 | 8.66 | -8.2% | 8.78 | 9.32 | 9.37 |
