- **Denmark CPI, HICP & NPI Rebased to 2015=100 (Jan); Norway HICP Rebased to 2015=100 (Jan)**
- Italy: Industrial Production (Dec)
- Sweden: Business Production Index (Dec)
- Kazakhstan: BOP Estimate (Q4); Russia: GDP Growth (Dec)
- Spain: Property Transfers (Dec)
- Japan: Public Construction (Dec), Corporate Goods Price Index (Jan)
- Thailand: Commercial Bank Assets and Liabilities, Foreign Exchange Position (Dec); Philippines: International Trade
- more updates...
Economy in Brief
U.S. Energy Prices Move Lower
Gasoline prices continued to decline last week and remained at the lowest level since January 2009...
U.S. Small Business Optimism Deteriorates to Two-Year Low
The NFIB Small Business Optimism Index declined 1.4% during January to 93.9 following a 0.7% December rise...
German Trade Surplus Shrinks in December But Stays Larger Year-Over-Year
German trade flows continue to show deterioration sequentially as growth rates are fading but...
U.S. Labor Market Conditions Index Growth Deteriorates Sharply
The Labor Market Conditions Index barely increased in January, its weakest performance in nine months...
OECD LEI Slips But Is Called 'Stable' in December
The OECD has refused to panic over some ongoing erosion in its LEI series...
U.S. Payrolls Increase Moderately; Unemployment Rate Declines; Earnings Strengthen
Nonfarm payrolls increased 151,000 during January following increases of 262,000 during December and 280,000 in November...
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|