- France: Registered Unemployment & Vacancies (Sep)
- US: New York Fed Coincident Indexes (Sep)
- US: New Residential Sales (Sep)
- Moldova: Monetary Statistics: Average Interest Rates
- Russia: Cross Border Remittances (Aug); Armenia: Monetary Aggregates (Sep); Kazakhstan: Wages (Sep-Prelim)
- Italy: Retail Trade (Aug), Contractual Wages (Sep), Consumer Survey (Oct)
- Finland: Import & Export Prices, PPI, Wholesale Prices,
- more updates...
Economy in Brief
German Economic Climate Makes a Small Rebound for November
Germany's consumer climate for November, measured by the survey group GfK, rose for the first time in two months...
U.S. Leading Economic Indicators Index Signals Continued Growth
The Index of Leading Economic Indicators from the Conference Board increased 0.8% (6.3% y/y) last month following no change in August...
U.S. FHFA Home Price Inflation Decelerates
The FHFA U.S. House Price Index improved 0.5% during August following a 0.2% July gain...
U.S. Initial Unemployment Insurance Declines to 2000 Low
The job market remains on a firm footing...
Chicago Fed National Activity Index Recovers
The Chicago Federal Reserve reported that its National Activity Index (CFNAI) for September rebounded to 0.47 from a little-revised -0.25 in August...
EMU Flash PMIs Show Life But Not Much Pulse
European markets reacted positively overnight to the release of the PMI data by Markit...
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|