Job growth in December was stronger than expected, but prior months were revised down. The three-month average shows slowing growth, and that slowing should continue in 2024. The unemployment rate was steady as labor force participation fell and wage inflation…
The video below is part of a biweekly Auto Market Report series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable…
Inflation changed little in November but was consistent with expectations. Headline inflation declined with the second-lowest reading since March 2021. Only June was lower. Retail sales declined in November but were stronger than expected, with consumer spending having the strongest…
A decade from now, when we look back at the years immediately following the global COVID pandemic of 2020, we’ll be awed by the dramatic swings and unprecedented circumstances the economy and auto market endured. To name a few, we…
As expected, the Fed left interest rates and overall monetary policy unchanged today. We have now had three straight meetings with no change in rate policy. The biggest changes from the Fed are in words and forecasts. Financial markets have…
Job growth in November improved modestly, about as expected. Labor force participation grew, and the unemployment rate declined while wage inflation was stable at the lowest level since June 2021. The Fed’s efforts to slow the economy and a “soft…
The video below is part of a biweekly Auto Market Report series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable…
Economic growth for the third quarter was revised up in the latest estimate to the strongest in almost two years. Accelerating growth in consumer spending was a major driver of the growth, but the opposite is happening in the fourth…
The video below is part of a biweekly Auto Market Report series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable…
Inflation cooled more than expected in October as most metrics based on Consumer Price Index (CPI) data saw slower paces of increase from September and year over year. Retail sales declined in October but came in better than expected. Miscellaneous…
