- Canada: Housing Starts (Nov)
- Italy: Constrution Cost Indexes, Money and Banking (Oct)
- OECD: OECD Composite Leading Indicators (Nov)
- Germany: International Trade & BOP, IP (Oct)
- Turkey: IP (Oct); Tunisia: PPI (Oct), IP (Aug)
- Malta: GDP Press Release (Q3); Switzerland: Unemployment (Nov); Cyprus: GDP (Q3); Greece: GDP (Q3); Portugal: GDP (Q3)
- Mexico: CPI (Nov); Chile: External Debt (Oct)
- Denmark: Import & Export Prices, Trade by Country, BOP (Oct)
- more updates...
Economy in Brief
U.S. Consumer Credit Growth Remains Strong
Consumer credit outstanding increased by $18.2 billion (6.3% y/y) during October following a $16.3 billion September rise...
U.S. Consumer Sentiment Strengthens
The index of consumer sentiment from the Reuters/University of Michigan survey jumped to 82.5 early this month...
U.S. Personal Income Edges Down in October
Personal income fell in October by 0.1% (+3.4% y/y) after a gain of 0.5% in September...
German Orders Step Back
German orders fell hard in October after an even stronger surge in September...
U.S. GDP Growth Boosted By More Inventory Accumulation
Real GDP growth for Q3'13 was revised up to 3.6% (1.8% y/y) from 2.8%...
Challenger Job Cut Announcements Slip
The outplacement firm of Challenger, Gray & Christmas reported that 45,314 job cuts (-20.6% y/y) were announced during 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|