Highlights Retail Sales The initial report for May indicated weaker-than-expected consumer spending, with motor vehicles and parts categories outperforming the rest. Residential Construction Residential construction trends for May were weaker than expected with a decline in the seasonally adjusted annualized rate of starts of 5.5%. Existing Home Sales Existing home sales saw a decline of … Continued
Highlights Inflation and Interest Rates The Consumer Price Index (CPI) in May showed no change from April but was up 3.3% from one year ago. Expectations were higher, with a 0.1% increase from April and 3.4% from last May forecasted. Core CPI, which excludes volatile food and energy prices, increased 0.2% from April and 3.4% … Continued
Calling the economic outlook uncertain and citing only “modest” progress toward their 2% inflation objective, the Federal Reserve announced today that it will maintain its benchmark Federal Funds rate in the 5.25% – 5.50% range. The Board of Governors were unanimous in their stance. The Fed’s decision to stand pat was not a surprise, as … 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. Filling in this time, Jeremy Robb, senior director of Economic and Industry insights, covers a wide range of topics, including consumer spending patterns, consumer sentiment, … Continued
Highlights Job Growth Job growth in May reaccelerated, exceeding expectations. Here’s a quick look at the highlights: Unemployment Unemployment increased in the latest data, breaking a 29-month streak of being under 4.0%. Vehicle Sales Vehicle sales performed well in May. Here are the key figures: Used-Vehicle Market The used-vehicle market demonstrated strong performance in May … Continued
Highlights GDP, Personal Income and Spending The fourth-quarter real GDP growth was revised down to a 1.3% annualized increase from an initial estimate of 1.6%. This downward revision also impacted personal consumption, which was adjusted to a 2.0% increase from 2.5%. Real GDP growth year over year was revised to 2.9% from 3.0%. Personal income … 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 report covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Highlights Housing Market Insights Existing Home Sales New Home Sales Overall Home Sales Economic Indicators Durable Goods Orders Jobless Claims Consumer Sentiment University of Michigan Index Morning Consult Index Gas Prices Conclusion This week’s economic data shows a mixed picture. The housing market continues to face challenges with declining sales and increasing inventory, influenced by … Continued
Highlights Inflation Trends Headline inflation growth showed signs of slowing down in April, according to the Consumer Price Index (CPI), providing relief to the financial markets: Retail Sales Performance Retail sales for April were flat, falling short of expectations: Residential Construction Insights Residential construction activity in April was mixed and weaker than expected:
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 report covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends, tax refund … Continued