- Australia: Imports (Mar)
- Japan: Senior Loan Officer Opinion Survey (Q1), Tokyo PRO Market (Mar)
- US: Chicago Fed National Activity Index (Mar)
- Czech Republic: Bank Lending Survey (Q1); Croatia: IP (Feb); Georgia: Money Supply (Mar); Armenia: Trade, PPI, IP (Mar); Montenegro: HICP (Mar); Poland: IP (Mar-prelim), Retail Trade (Mar), Agricultural Prices (Mar), PPI (Mar); Ukraine: IP Press Release (Mar); Slovakia: Financial Accounts (Q4),
- more updates...
Economy in Brief
German PPI Still Under Downward Pressure But Abating?
Germany's PPI rose by 0.1% in March, still dropping by 1.7% year-over-year...
U.S. Consumer Price Inflation Heats Up
The consumer price index increased 0.2% (-0.1% y/y) in March and February following declines in the prior three months...
U.S. Leading Economic Indicators Improve Modestly
The Index of Leading Economic Indicators from the Conference Board increased 0.2% during March (5.2% y/y) following a 0.1% rise...
Has EMU Austerity Been a Success or Failure?
The EMU-wide HICP fell again in March, marking the fourth consecutive month in which the price index has fallen...
U.S. Housing Starts Post Disappointing Rebound from Winter Low
Housing starts during March improved 2.0% to 926,000 units (-3.5% y/y)...
U.S. Initial Claims for Unemployment Insurance Trend Lower
Initial claims for jobless insurance in the week ended April 11 nudged up to 294,000 (-3.5% y/y) from 282,000 in the prior week...
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|