- Japan: Financial Statements Statistics of Corporations by Industry (Q3)
- Korea: Building Permit (Oct), CPI (Nov); HongKong: Report on General Household Survey (Q3);
- New Zealand: Trade Indexes (Q3); Australia: PMI (Nov);
- US: Pending Home Sales Index (Nov)
- Belgium: GDP (Q3)
- Switzerland: KOF Indicators (Nov); Austria: Money Supply (Oct)
- Chile: IP, Employment, Housing Starts (Oct);
- more updates...
Economy in Brief
Chicago Business Barometer Reverses Earlier Improvement; Suggests Economic Contraction
The Chicago Business Barometer in November plummeted 7.5 points to 48.7 and fully reversed its October rise...
Dallas Fed Factory Sector Activity Improves; Employment Figures Strengthen
The Federal Reserve Bank of Dallas reported that its November Composite index of factory sector activity increased to -4.9 from -12.7...
Japan's IP Marks a Strong October Gain
Japan's industrial production index rose by 1.4% in October, pushing the three-month growth rate up to 5.4% annual rate...
EMU Index Holds Its Ground in November
The EU overall sentiment index slipped this month while the index for EMU members was dead flat at last month's level...
U.S. Personal Spending Inches Higher as Income Strengthens
Consumers are exhibiting cautious spending behavior despite firm income gains...
Durable Goods Orders Rebound More Strongly Than Expected in October
Durable goods orders started the third quarter strongly, jumping up 3.0%/m (0.5% 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|