- Japan: Services Producer Price Index (Aug), Real Trade Index (Aug-Final)
- Macao: Labor Force Survey (Aug)
- France: Registered Unemployed & Job Vacancies (Aug)
- Worldwide Governance Indicators (2015)
- US: New Residential Sales (Aug)
- IMF: Balance of Payments, International Investment Position
- IMF: International Financial Statistics
- more updates...
Economy in Brief
Dallas Fed Factory Sector Activity Improves
The Dallas Fed reported that its general activity index of factory sector activity in Texas remained negative during September...
Surprise Spurt in Germany's IFO: Should You Believe It?
Germany's business expectations in the IFO survey 'flipped' from a reading of -2.8 in August to one of +5.9 in September...
Euro Area Composite PMI Weakens; Trends Diverge
The EMU composite (private sector) index has fallen in September to a diffusion reading of 52.6 from 52.9 in August...
U.S. Existing Home Sales Decline
Sales of existing homes fell 0.9% (+0.8% y/y) during August to 5.330 million units after 3.4% July decline to 5.380 million units...
U.S. Leading Economic Indicators Decline
The Conference Board's Composite Index of Leading Economic Indicators fell 0.2% during August (+1.1% y/y)...
U.S. FHFA House Price Index Momentum Eases
The FHFA index of U.S. house prices increased 0.5% during July following a 0.3% June gain...
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|