- Brazil: IPC-S (Sep)
- Estonia: Retail Sales (Aug); Kazakhstan: CPI, PPI (Sep-Prelim); Serbia: Retail Trade (Aug); Slovakia: External Debt (Jun); Romania: Foreign Reserves (Sep)
- Spain: ANFAC Auto Registrations, Energy Consumption (Sep), BDE Auto Registrations (Aug)
- South Africa: Fuel Prices (Oct); Jordan: BOP (Q2); Turkey: Exports from the Turkish Exporters Assembly (Sep)
- Sweden: PMI (Sep), Norway: PMI (Sep); Denmark: PMI (Sep)
- more updates...
Economy in Brief
Chicago Purchasing Managers Index Dips; Inventories Surge
Chicago purchasing managers indicated that their September Business Barometer Index fell to 60.5 this month...
U.S. Gasoline Prices Hold Steady; Crude Oil Price Falls
The cost of a gallon of regular gasoline held at $3.35 last week (-2.1% y/y)...
Europe Dodges a Bullet; EMU Unemployment Rate Stays Put in August
The unemployment rate in the European Monetary Union stayed put at 11.5% in August...
U.S. Consumer Spending Posts Firm Rise As Income Improves
Personal consumption expenditures increased 0.5% during August (4.1% y/y) following an unchanged July reading...
NABE Predicts Improving Economic Growth
Expectations for 3.0% real GDP growth in 2015 were little-changed but this year's advance was lessened to 2.1%...
U.S. Pending Home Sales Decline
Pending sales of single-family home sales declined 1.0% last month (-2.2% y/y) following a 3.2% July increase...
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|