- *** Technical Issues Recieving PMI Manufacturing Surveys from Markit Economics ***
- Japan: Financial Statements Statistics of Corporations by Industry(Q2), TSE Market Capitalization (Aug)
- Korea: Consumer Price Indexes (Aug), IIP, External Debt (Q2); China: Crude Steel Output of Large & Medium-Sized Enterprises (Jul),Manufacturing PMI, Nonmanufacturing PMI, Steel PMI (Aug); Indonesia: CPI, Average Stay of Tourists & Hotel Occupancy (Aug); Thailand: CPI (Aug)
- more updates...
Economy in Brief
Dallas Fed Factory Sector Activity Deteriorates Along With Outlook
The Dallas Fed reported that its August Composite index of factory sector activity declined to -15.8, its weakest reading in three months...
EMU Inflation: Stuck Low
The EMU HICP gauge in August fell 0.1% m/m...
Steady U.S. Personal Income Increase Fosters Higher Savings
Personal income improved 0.4% during July (4.3% y/y) for the fourth straight month...
Kansas City Fed's Factory Sector Activity Index Continues to Weaken
The Kansas City Fed reported that manufacturing sector business activity slackened during August...
EU/EMU Indices Rise in August-Ho Hum
The EU index continues to run stronger than the EMU index in the EU Commission index framework...
U.S. GDP Growth Is Strengthened; Upward Revisions Are Broad-Based and Profit Growth Is Robust
Gross domestic product advanced at a revised 3.7% annual rate (2.7% y/y) in Q2 versus the initial estimate of 2.3% growth...
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|