Manufacturing has been the weakest part of the economy this year as trade issues have resulted in declining orders. Despite that weakness, the job market continues to be solid, albeit with decelerating gains. June saw rebounding job growth from May’s very low gain. Low unemployment, stagnate wages: Despite low unemployment, wage growth is decelerating, which … Continued
The economy is slowing and consumer confidence is weakening but the consumer keeps spending, for now, though less on vehicles since retail auto sales are declining. Economy slowing: The economy gave us a head-fake of 3.1% growth in the first quarter, as that growth on paper was supported by growth in inventories and exports, which … Continued
At the 2019 Mid-Year review held on June 26, the Cox Automotive industry insights team presented their view of the first half of the year. Watch the replay below to learn from Cox Automotive Chief Economist Jonathan Smoke, Charlie Chesbrough, senior economist, and Michelle Krebs, senior industry analyst, how the automotive industry has fared for … Continued
The “bad news is good news” cycle continued last week as the stock market cheered the Fed acknowledging trade-related economic weakness and low inflation. The Dow Jones Industrial Index ended the week up almost 700 points. Bond yields have tumbled as the financial market sees rate declines as a certainty later this year with a … Continued
The Fed left rates unchanged as expected, but their assessment of economic trends and inflation took a notable downward shift compared to their “patient” view just six weeks ago. As a result of changing data and mixed concerns, the committee split on their views for future rate policy direction. Back then the Federal Open Market … Continued
The June 2019 Cox Automotive Industry Update Report shares Cox Automotive’s multifaceted insight into the automotive marketplace to provide an overview of economic indicators, supply, demand, credit and other vital topics and trends affecting the industry. ECONOMIC INDICATORS Job creation in May was much weaker than expected as job creation declined to 75,000 when analysts … Continued
The latest inflation data show that higher prices outside of housing are not materializing, and lower energy costs are keeping inflation very low. Weak inflation bolsters the view that the Fed is likely to cut rates as early as their July 31 meeting. Retail sales meet expectations: Retail sales increased 0.5% in May when analysts … Continued
While unemployment remains historically low, job growth is suddenly slowing, reflecting the negative trends in many sectors being impacted by trade and growing uncertainty. This quarter is seeing weaker consumer spending and business investment, which will no doubt lead to weaker economic growth. The Fed may take pre-emptive measures in July and cut rates Job … Continued
CBT News, June 3, 2019 — While it’s important to monitor year-over-year trends in the retail auto industry, it is arguably more important to focus on where the industry is headed. Charlie Chesbrough, Senior Economist and Senior Director of Industry Insights at Cox Automotive, joins Jim Fitzpatrick at CBT News to give an overview of this … Continued
Roller-coaster consumer sentiment rebounded in May as did consumer spending, while the uncertainty around trade intensified. Economy slows: Economic growth in Q1 was revised down slightly, but most importantly growth is poised to be much weaker in Q2 as much of the gain reported for Q1 will be reversed in Q2. Consumer spending down: Consumer spending declined … Continued
