- Australia: TD-MI Inflation Gauge Index (Mar); New Zealand: Commodity Price Index (Mar); International Trade (Feb)
- Japan: Monetary Base (Mar),Tankan Inflation Outlook of Enterprises (Q1)
- Korea: Operating Rates, Small and Medium Industrial Production, Construction Starts, BOP (Feb)
- US: Autodata Vehicle Sales (Mar), Construction (Feb), ADP Employment Report (Mar)
- Turkey: Gold Prices, Central Bank Balance Sheet (Mar); Egypt:
- more updates...
Economy in Brief
U.S. Light Vehicle Sales Recover After Three Months of Decline
Consumers renewed their car-buying interest last month...
U.S. ADP: Job Growth Continues to Moderate
The ADP/Moody's National Employment Report reported that nonfarm private sector payrolls increased 189,000 during March following a 214,000 improvement in February...
U.S. Construction Spending Weakens
The value of construction put-in-place slipped 0.1% during February following a 1.7% drop in January...
U.S. Mortgage Loan Applications Increase as Interest Rates Remain Low
The Mortgage Bankers Association reported that their total Mortgage Market Volume Index gained 4.6% last week (28.1% y/y)...
Japan's Tankan Results Show Little Progress in Q1 2015
Japan's Q1 2015 Tankan report shows little progress for the overall economy...
U.S. Consumer Confidence Recovers
The Conference Board's Consumer Confidence Index improved to 101.3 in March (20.7% y/y) and made up half of last month's decline to 98.8...
by Tom Moeller June 1, 2011
Lower consumer confidence can quickly translate into less spending. That seems to have been the case during May. Consumer Confidence dropped 7.9% last month according to the Conference Board. Today's news is that unit sales of light vehicles dropped 10.5% last month to 11.79M units (SAAR) after the 0.5% uptick during April. The Consensus expectation was for sales of 12.8M, according to the Bloomberg survey. (Seasonal adjustment of these figures is provided by the U.S. Bureau of Economic Analysis.)
Sales of autos fell hardest by 15.4% m/m to 5.77M. Domestic sales slipped 16.4% to 3.95M and sales of imports fell 13.3% to 1.82M.
Sales of less fuel efficient light trucks declined 5.1% m/m to 6.02M. Domestic model sales fell 4.5% to 5.14M while imports dropped 8.1% to 0.88M, the lowest level since June of last year.
Imports' share of the U.S. light vehicle market slipped to 22.9%. (Imported vehicles are those produced outside the United States.) Imports' share of the U.S. car market rose to 31.6% versus the record 35.0% for all of 2010. Imports' share of the light truck market fell to 14.7% versus 19.7% in 2009.
The U.S. vehicle sales figures can be found in Haver's USECON database.
|Light Vehicle Sales (SAAR, Mil. Units)||May||Apr||Mar||Y/Y||2010||2009||2008|