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Auto Market Weekly Summary

New daily COVID-19 cases declined last week, but the Labor Day holiday caused at least some of the decline. Jobless claims continued to decline to new lows for the pandemic, and consumer sentiment edged out a small gain for the week thus far. Used retail sales were stable in August compared to July and remain … Continued

Auto Market Weekly Summary

The surging Delta variant of COVID-19 is having a major impact on the economy, especially on jobs. August saw a big deceleration in job creation, including zero new jobs created in Leisure & Hospitality, which had been growing fast. Pending home sales fell in July. Consumer confidence and sentiment continue to fade as COVID cases … Continued

Auto Market Weekly Summary

The growth trend in new daily COVID-19 cases continued last week, but the pace of growth is slowing. Consumer sentiment declined again in August. Consumer spending slowed while inflation rose to its highest level in more than 30 years. The savings rate increased again as income growth outpaced spending growth. Jobless claims rose from their … Continued

Auto Market Weekly Summary

The trend in new daily COVID-19 cases increased again last week, but the pace of increase slowed. Retail sales slowed, though spending remained relatively strong. Consumer sentiment declined again. Jobless claims fell. meanwhile, used-vehicle prices edged up again. Retail sales slowed: Retail sales declined more than expected from June to July, but upward revisions to … Continued

Auto Market Weekly Summary

New daily COVID-19 cases continued to increase last week. Jobless claims kept falling, but measures of consumer sentiment are showing declines so far in August as consumers deal with a host of issues including the fourth wave of COVID-19, diminishing unemployment benefits in half of the country and inflation. Inflation moderated: Inflation moderated in July … Continued

Auto Market Weekly Summary

July saw further strong gains in jobs with 943,000 created. The headline unemployment rate and the underemployment rate fell to new lows for the pandemic. New jobless claims also fell again last week, and continuing claims fell in the latest data as well. Average hourly earnings are growing at a fast pace especially since most … Continued

Auto Market Weekly Summary

The growth trend in new daily COVID-19 cases continued last week. Consumer sentiment declined in July, but measures of consumer attitudes in July showed conflicting trends. Consumer spending improved in June even as government transfer payments declined. Inflation in June was at the highest level in more than a decade. The savings rate declined but … Continued

The Fed Not Yet Ready to Taper

U.S. monetary policy was unchanged today as the Fed issued their official statement following their fifth meeting of 2021. Minimal changes were made in the official statement compared to the prior statement. They acknowledged progress towards the conditions necessary to eventually move away from easy monetary conditions but said they will continue to assess progress … Continued

Auto Market Weekly Summary

The trend in new daily COVID-19 cases continued increasing last week. Consumer sentiment declined again and is having its worst month since November. Wholesale used vehicle values continue to decline from their peak in early June. Retail prices are likely to reach their peak this month. New construction trends in June were mixed, but declining … Continued

Auto Market Weekly Summary

The number of new daily COVID-19 cases continued to increase last week. New jobless claims declined to a pandemic low, but consumer sentiment declined again, losing ground so far in July. Inflation increased again in June as bottleneck-sensitive categories like used cars, car rentals and lodging saw more big gains. Used vehicles are not likely … Continued