- Turkey: Nondomestic PPI, Govt Finance, Domestic Debt (Sep); Iraq: Foreign Trade (2015); South Africa: Wholesale & Motor Trade Sales (Aug); Jordan: Foreign Trade (Aug-Prelim); Morocco: Public Finance (Sep); Ghana: Government Finance (Jun-Jul)
- US: Philadelphia FRB Mfg (Oct) - FRB Phil Issued Corrections to July 2016 Data, Processed at 11:20am
- Realtors Confidence Index Survey (Sep)
- US: Existing Home Sales Detail (Sep)
- more updates...
Economy in Brief
U.S. Existing Home Sales Rebound
Sales of existing homes increased 3.2% (0.6% y/y) in September to 5.470 million units (AR)...
U.S. Leading Economic Indicators Recover
The Conference Board's Composite Index of Leading Economic Indicators rebounded 0.2% (1.5% y/y) during September...
U.S. Initial Unemployment Claims Increase
Initial claims for unemployment insurance rose to 260,000 during the week ended October 15...
Philadelphia Fed Factory Business Outlook Survey Indicates Growth
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index remained positive in October...
The German PPI Is Restless...for Good Reason
The German PPI has been on the move up...
U.S. Housing Starts Decline, but Building Permits Rise
Housing starts fell 9.0% during September (-11.9% y/y) to 1.047 million units (AR)...
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|