At the Cox Automotive Q3 U.S. Auto Sales Forecast call held on September 30, Cox Automotive Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough and Economic and Industry Insights Manager Kayla Reynolds explained the factors that drove the auto industry in the third quarter. Additionally, Lea Malloy, head of EV Battery Solutions at Cox Automotive Mobility, … Continued
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 insights. Download this week’s presentation.
The trend in new daily COVID-19 cases declined last week. Consumer sentiment has been up and down and has lost some ground so far in September. New jobless claims increased again last week. New construction trends are improving as multifamily activity expands. Existing home sales declined in August while new home sales improved. Supply remains … Continued
U.S. monetary policy was unchanged today as the Fed issued their official statement following their sixth meeting of 2021. The most important information coming out of this meeting was direction on future policy, namely when tapering might begin and if the schedule for possible rate liftoff is accelerating. Tapering we learned is likely coming soon, … Continued
After declining in the first week of September, the trend in new daily COVID-19 cases resumed increasing last week. Consumer sentiment declined again, and sentiment is now down slightly in September following declines in July and August. Initial jobless claims increased last week from what had been a low for the pandemic. Inflation trends decelerated … Continued
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 insights. Download this week’s presentation.
New daily COVID-19 cases declined last week, but the Labor Day holiday caused at least some of the decline. Jobless claims continued to decline to new lows for the pandemic, and consumer sentiment edged out a small gain for the week thus far. Used retail sales were stable in August compared to July and remain … Continued
The surging Delta variant of COVID-19 is having a major impact on the economy, especially on jobs. August saw a big deceleration in job creation, including zero new jobs created in Leisure & Hospitality, which had been growing fast. Pending home sales fell in July. Consumer confidence and sentiment continue to fade as COVID cases … Continued
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 insights. Download this week’s presentation.
The growth trend in new daily COVID-19 cases continued last week, but the pace of growth is slowing. Consumer sentiment declined again in August. Consumer spending slowed while inflation rose to its highest level in more than 30 years. The savings rate increased again as income growth outpaced spending growth. Jobless claims rose from their … Continued