- China: GDP (Q4)
- China: NCI Economic Activity Index (Jan)
- Spain: Import & Export Prices, International Trade Detail (Nov), Motor Vehicle Registrations (Dec)
- Canada: CPI (Dec), Retail Trade (Nov)
- Ireland: Wholesale and Producer Prices (Dec)
- Mexico: Employment (Dec)
- Estonia: PPI, Import & Export Prices (Dec), Agricultural Output Prices, Building Permits (Q4); Hungary: Wages, Employment (Nov);
- more updates...
Economy in Brief
German PPI Takes Wing...Even Excluding Energy
Germany's PPI inflation excluding energy is pushing relentlessly higher...
U.S. Housing Starts Reach 2007 High
The housing market exhibited firm growth in 2016...
U.S. Initial Unemployment Claims Fall Sharply
Initial unemployment insurance filings declined to 234,000 during the week ended January 14 from 249,000 in the prior week...
Philadelphia Fed Factory Business Outlook Survey Improves
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rose to 23.6 during January from December's 19.7...
EMU Current Account Surplus Trumps the Past...All of It
The euro area has set a new record high current account surplus at 36.1 billion euros in November...
U.S. CPI Registers Faster Growth in 2016
The Consumer Price Index during all of 2016 increased 2.1% from December-to-December...
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|