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Economy in Brief
Japan Shows Very Moderate Growth As Trade War Clouds Gather
Japan’s sector indexes showed a solid gain in February...
U.S. Consumer Confidence Unexpectedly Rose in April
The Conference Board Consumer Confidence Index rose to 128.7 in April from 127.0 (initially reported as 127.7) in March...
U.S. New Home Sales and Prices Strengthen
Sales of new single-family homes during March increased 4.0% (8.8% y/y) to 694,000 (SAAR)...
U.S. FHFA House Price Index Continues to Strengthen
The FHFA index of U.S. house prices rose 0.6% during February...
U.S. Energy Prices Rise Further
Retail gasoline prices increased to $2.80 per gallon last week (14.3% y/y)...
by Tom Moeller August 2, 2007
During July, U.S. sales of light vehicles fell for the seventh consecutive month this year. The decline was attributed by manufactures to spillover effects from weak housing & construction activity.
The 0.4% m/m decline to an annualized selling rate of 15.5M units, according to the Autodata Corporation, was slight but it dropped sales nearly 10% below the year earlier level. The decline was to the lowest since October 2005.
Sales of imported vehicles dropped a very slight 0.2% m/m to 3.99M (-5.3% y/y), again propped up by sharp discounting. Sales of imported cars ticked up by 0.6% m/m but that was not enough to prevent an 8.6% decline versus a year ago. Sales of imported light trucks fell 1.7% m/m (+1.5% y/y).
Domestic car sales again suffered a steep decline with a hard 5.4%m/m drop (-11.2% y/y). Sales of domestic light trucks recovered a bit of the prior two months steep declines with a 3.3% m/m increase (-10.8% y/y).
U.S Exporters: A Rare Breed from the Federal Reserve Bank of St. Louis is available here.
Light Vehicle Sales (SAAR, Mil. Units) | June | May | Y/Y | 2006 | 2005 | 2004 |
---|---|---|---|---|---|---|
Total | 15.54 | 15.60 | -9.6% | 16.55 | 16.96 | 16.87 |
Autos | 7.37 | 7.63 | -10.3% | 7.77 | 7.65 | 7.49 |
Trucks | 8.16 | 7.97 | -8.9% | 8.78 | 9.32 | 9.37 |