Pending home sales were a surprise to the upside in January. The strength in new and pending home sales may be short-lived, with mortgage rates moving substantially higher in February and the weather being less cooperative. The light new-vehicle sales…
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…
Fourth quarter real GDP growth was revised down as consumer spending was downgraded more than the slowing originally estimated. Inventory growth helped deliver the relatively strong-looking number, which doesn’t speak to strong economic conditions. However, consumer spending has accelerated to…
Year-over-year inflation declined in January but at a slower pace. Inflation remains elevated and much higher than the Federal Reserve’s target. Inflation impacting lower-income households remains extremely high. Retail sales increased more than expected in January. Adjusted for inflation, retail…
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…
Used retail-vehicle sales increased in January and were up from a year ago. Wholesale vehicle values also increased in January. Auto loan performance deteriorated further in January as both severe delinquencies and defaults grew. The severe delinquency rate is the…
The light new-vehicle sales pace increased in January to 15.7 million, with strength coming from fleet sales. New-vehicle prices declined slightly, and incentives increased. The headline unemployment rate declined to 3.4% from 3.5% in January. This is a 54-year low…
The Fed raised the target for the Federal Funds Rate by a quarter percentage point today, as expected, which was the smallest increase since the first of seven increases in 2022. Last year’s increases resulted in the largest sustained one-way…
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…
The fourth quarter saw a slowing in real economic growth, which followed a larger increase in the third quarter. Consumer spending slowed, but declining imports and inventory increases helped deliver the relatively strong number, which looked better than it really…
