- Japan: Lease Statistics (Dec), Labor Productivity Statistics (Nov)
- Philippines: GDP Revisions (Q3); Vietnam: Retail Sales Realized Investments from State Budget, IP, International Trade, Visitor Arrivals (Jan)
- Australia: CPI (Q4), Internet Vacancy Index (Dec)
- OECD Government Statistics
- France: Registered Unemployed & Job Vacancies, Building Starts & Authorizations (Dec)
- more updates...
Economy in Brief
U.S. Consumer Confidence Jumps To 2007 High
The Conference Board's consumer confidence index improved to 102.9 during January from 93.1 in December...
U.S. Durable Goods Orders Are Depressed by Fewer Aircraft Bookings
New orders for durable goods declined 3.4% during December (+0.3% y/y) following a 2.1% November drop...
U.S. Energy Prices Remain Under Pressure
Average gasoline prices declined another 3 cents in the week ended January 26 to $2.04 per gallon...
U.K. GDP Slows in Q4 but Finishes a Strong Year
U.K. GDP slowed in Q4 2014, rising by 0.5% after having gained 0.7% in the previous quarter...
Dallas Fed Factory Sector Activity Weakens
The Dallas Fed reported that its January Composite index of factory sector activity of -4.4 was negative for the first time since May 2013...
The Gathering Euro-Storm
The chart shows the steady march of the German Ifo indices even in the context of the business cycle and its aftermath...
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|