- Japan: TSE Market Capitalization (Jul), Motor Vehicle Sales Press (Jul)
- Markit PMI: Manufacturing Survey - Japan, Korea, China, Taiwan, Vietnam, Malaysia, Indonesia (Jul)
- Australia: TD-MI Inflation Gauge Index, PMI, Average Weekly Job Advertisements (Jul)
- Vietnam: Banking Statistics on Payment Operations, Banking Statistics on Domestic Transactions (Q2); Malaysia: GDP by Income Approach (2014); Korea: BOP (Jun), Average Monthly Wages (May); Indonesia: CPI, WPI (Jul), Average Stay of Tourists
- more updates...
Economy in Brief
Chicago Purchasing Managers Index Signals Expansion
Chicago purchasing managers reported that their July Business Barometer Index improved to 54.7 following an unrevised rise to 49.4 in June...
EMU Unemployment Is Unchanged
The EU unemployment rate is unchanged in June at 9.6%...
U.S. GDP Growth Improves; Consumer Leads the Advance
The Commerce Department estimated that overall economic growth accelerated to 2.3% last quarter (SAAR) versus a 0.6% Q1 increase...
U.S. Initial Claims for Jobless Insurance Rise from 1973 Low
Initial claims for unemployment insurance rose to 267,000 (-10.6% y/y) during the week ended July 25...
U.S. Merchandise Trade Deficit Deepens
The U.S. foreign trade deficit in goods during June deteriorated to $62.3 billion from $60.4 billion in May...
EU Commission Indices Show Strength in July
The overall index for the EU moved to 106.6 in July from 105.5 in June...
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|