- Palestine: PPI (Apr); Qatar: Foreign Trade (Apr)
- US: Consumer Sentiment (May-final), GDP & Corporate Profits (Q1-2nd)
- Consumer Sentiment Detail (May-final)
- US: Select NIPA Table (Q1-2nd Est)
- Taiwan: Composite Leading Indicators (Apr) GDP (Q1); China: Industrial Profits Press, Trade in Goods & Services (Apr)
- Switzerland: Job Vacancies Rebased to Q2 2015=100, Employment Barometer (Q1); Malta: Government Finance (Apr)
- more updates...
Economy in Brief
French Consumer Confidence Last Higher Eight and One Half Years Ago
Although household confidence was last higher eight and one-half year ago, it was exactly this high back in January of this year...
U.S. Pending Home Sales Surge to 10-Year High
The NAR reported that pending sales of single-family homes jumped 5.1% in April (4.6% y/y)...
U.S. Durable Goods Orders' Strength Led by Civilian Aircraft; Capital Spending Weakens
New orders for durable goods jumped 3.4% during April (1.9% y/y)...
U.S. Initial Unemployment Insurance Claims Fall Again
Initial Claims for unemployment insurance declined to 268,000 (-4.6% y/y) during the week ended May 21...
Italian Retail Sales Fall in March Amid Other Signs of Weakness
Recent Italian data have been backtracking...
U.S. FHFA Home Price Index Increase Firms
The U.S. House Price Index, from the Federal Housing Finance Agency (FHFA), increased 0.7% (6.1% y/y)...
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|