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
Highlights Used Vehicle Sales and Values In April, used retail vehicle sales volumes decreased compared to March, while certified pre-owned (CPO) sales declined month over month. Additionally, the Manheim Used Vehicle Value Index declined on a seasonally adjusted basis. Consumer Credit According to the latest Federal Reserve report, consumer credit, excluding mortgages, experienced a significant … Continued
Highlights Job Growth and Unemployment Dynamics April’s job growth has taken a significant dip, falling below expectations and revising down the tally of previous months, contributing to a broader discussion on labor market trends and economic indicators as viewed through the lens of vehicle sales, Federal Reserve policies, and average transaction prices in the auto … Continued
The Fed left interest rates and overall monetary policy unchanged today. We have now had six straight meetings with no change in rate policy. The Fed remains focused on a 2% target. Still, they appear to recognize that waiting could lead to even more economic slowing, which is ultimately the goal, with better balance of … Continued