A replay of the 2020 Cox Automotive Industry Insights Breakfast, held in Detroit on Monday, is available below. Cox Automotive Chief Economist Jonathan Smoke and his team shared their insights on how the automotive industry fared in 2019 and what they…
Job growth is slowing, wage gains are not accelerating, and consumers are pulling back on spending as evidenced by disappointing December car sales. Job creation slows: December saw job creation slow down relative to the much bigger gain in November.…
We ended 2019 with mostly positive data. Home sales continue to be strong as both new home sales and pending home sales increased in November. But news starting 2020 has been less so. Wary consumers: Consumer confidence failed to see…
While we saw progress on trade agreements, new economic data last week highlight concerns about the bedrock of the U.S. economy –the consumer. Trade agreements closer: Last week saw progress on trade uncertainty as a supplementary “protocol” was agreed to by…
The Fed officially left short-term rate policy unchanged at the conclusion of their December meeting today, which was the last meeting in 2019. After three rate cuts this year, the Fed seems set on a steady course in 2020 barring…
Jonathan Smoke, Chief Economist at Cox Automotive, provides an update on the Key Trends that, earlier in the year, were predicted to have the greatest impact on the automotive industry in 2019. The Economy Economic growth has been revised slightly…
The Fed officially cut the short-term rate policy by a quarter-point, citing slowing economic growth both globally and domestically. This was the third cut this year, so rate policy is back to the range we had in the spring of 2018…
Economic growth slowed in the second quarter and is likely to be much slower in the back half of the year compared with the first half of the year. Tame inflation: Inflation has been tame, mainly as a result of…
The stock market failed to make it four straight weeks of gains as the UAW strike at GM, turmoil in the Middle East, floods in Texas, and global economic weakness collectively dampened moods. The Fed also made news every day,…
As was widely expected, the Fed officially cut the short-term rate policy by a quarter point, so their rates are back to the range we had last August before the September 2018 increase. Citing global developments and muted inflation pressures,…
