Key Highlights: GDP and Spending The first estimate of GDP for the first quarter showed a decline in the economy, but it was mainly an accounting technicality based on surging imports. The data show that tariffs are having an impact, and besides surging imports, consumer spending is slowing. Consumer Spending While the GDP data showed … Continued
Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Key Highlights: Existing Home Sales Existing home sales saw a significant decline in March, reaching levels comparable to the Great Recession. New Home Sales New home sales showed positive growth in March, with February’s sales being revised higher. Jobless Claims We have seen claims increase in recent weeks as government cuts impacted the data, but … Continued
Key Highlights: Retail Sales Surge in March Retail sales saw the strongest monthly growth in two years in March with 10 of 12 categories up, and sales were up year over year on a nominal and inflation-adjusted basis. Vehicle Market Leads the Charge The vehicle market was the strongest gainer as consumers pulled demand forward … Continued
Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Key Highlights Inflation and Its Impact on the Auto Industry The CPI fell in March relative to February as year-over-year inflation declined to 2.4% and core inflation declined to 2.8%. This is likely a temporary low before these metrics rise by a percentage point or more later this year due to tariffs on more imported … Continued
Key Highlights The worry is not about the data released last week but about the tariff policies that have started a global trade war. Employment Trends Job growth accelerated in March and exceeded expectations, but prior job numbers were revised down, the unemployment rate increased, and wage growth decelerated. With tariffs destined to drive inflation … Continued
Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Key Highlights We are ending March like we did February, with tariffs on autos just around the corner, but this time, it’s on all imports, and it looks like this is really happening. Economic Overview The third and final estimate of fourth-quarter data revised real GDP growth higher to 2.4%, a deceleration from the 3.1% … Continued
Key Highlights Retail Sales Performance Retail sales registered weak growth in February, with seven of 12 categories down, but sales were up year over year on a nominal and inflation-adjusted basis. The initial retail sales report for February showed a 0.2% growth, which was weaker than expected, following a 1.2% decline in January. Residential Construction … Continued