- **Colombia retail sales rebased from 1999=100 to 2013=100*
- Japan: Intl Trade, Visitor Arrivals (Jun-Prelim)
- Markit PMI: Manufacturing Survey - JAPAN (Flash - Jul)
- UK: CBI Composite Indicator (Jul)
- New Zealand: International Trade (Jun)
- Italy: Price Competitiveness Indicators (Apr), Non-EU International Trade (Jun), BOP (May-Final), IIP (Q1)
- US: Philadelphia Fed State Coincidence Indexes, New York Fed
- more updates...
Economy in Brief
French Business Climate Struggles
The French business climate indicator from the INSEE survey fell in July...
U.S. Consumer Prices Moderate; Services Price Pressures Ease
Consumer prices gained 0.3% (2.1% y/y) during June following a strong 0.4% May rise...
U.S. Existing Home Sales Increase for Third Straight Month and Raise Prices
Sales of existing single-family homes increased 2.6% (-2.3% y/y) to 5.040 million (AR) during June...
U.S. Energy Prices Move Lower
The price for a gallon of regular gasoline declined five cents to $3.59 last week (-2.4% y/y)...
U.S. FHFA Home Price Index Growth Decelerates
The FHFA U.S. House Price Index improved 0.4% during May...
Business Economist Survey Indicates Widespread Improvement in Business Conditions
The latest survey indicated improvement in most categories or a return to conditions in place before the last recession...
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|