- US: Consumer Sentiment (Jul), GDP incl revisions (Q2-Adv), ECI (Q2)
- Consumer Sentiment Detail (Jul-final)
- Serbia: Retail Sales (Jun)
- US: Select NIPA Tables (Q2-Adv)
- Italy: Labor Force Survey (Jun), CPI, HICP (Jul-Prelim), PPI (Jun)
- Brazil: Household Employment Survey, PPI (Jun); Chile: Employment, IP, Housing Starts, Consumer Sales (Jun); Mexico: Construction (May), Flash GDP (Q2)
- Armenia: Remittances, Public Finance, IP, Wages, Foreign Trade,
- more updates...
Economy in Brief
U.S. Employment Cost Index Shows Steady Gain
The employment cost index for civilian workers increased 0.6% (2.3% y/y) during Q2'16 ...
Chicago Purchasing Managers Index Eases
Chicago purchasing managers reported that their Business Barometer slipped to 55.8 this month ...
Euro Area Unemployment Rates Steady. Down-trend Remains in Place
Levels of unemployment are falling for EU and for EMU but the annualized pace of the drop has been slowing...
U.S. Initial Claims for Unemployment Insurance Rise
Initial unemployment insurance claims increased to 266,000...
Kansas City Federal Reserve Factory Sector Index Declines; Expectations Improve
The Kansas City Fed reported that regional manufacturing sector business activity deteriorated sharply during July...
Euro Area Sentiment Wanes as EMU Firms
The EU region saw its sentiment gauge drop to 104.8 in July from 105.7 in June...
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|