New daily COVID-19 cases continued to decline last week, but the pace of decline slowed. Economic activity continues to recover as more states ease or eliminate restrictions. New jobless claims declined to their lowest level for the pandemic last week. Inflation increased again in May as bottleneck-sensitive categories like car rentals, used cars, airline fares, … Continued
After a year’s worth of videos tracking the COVID-19 pandemic’s impact on the auto market, we are launching a biweekly Auto Market Report video series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke will continue to lead our effort to translate data and trends into … Continued
May saw 559,000 new jobs created but 675,000 had been expected. The headline unemployment rate and the underemployment rate both fell to new lows for the pandemic. New jobless claims also fell again last week to their lowest level for the pandemic. Average hourly earnings are growing at a solid pace even though the majority … Continued
The declining trend in new daily COVID-19 cases continued last week. Consumer sentiment improved last week, but all measures of consumer confidence saw declines in May. Economic activity is continuing to pick up, and first-quarter GDP growth accelerated. Spending grew again in April even with a slide in income from March with the huge impact … Continued
The trend in new daily COVID-19 cases declined again last week, leading to improved economic activity. Consumer sentiment gained ground but remains down for May despite increasing economic activity and jobless claims continuing to fall. New construction, especially starts, fell in April as labor and material shortages took a toll. Existing home sales also declined … Continued
After a year’s worth of videos tracking the COVID-19 pandemic’s impact on the auto market, we are launching a biweekly Auto Market Report video series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke will continue to lead our effort to translate data and trends into … Continued
New daily COVID-19 cases continued to decline as more people were vaccinated. Economic activity continued to recover as more states ease restrictions. New jobless claims declined to their lowest level for the pandemic. Inflation jumped, likely prompting a decline in consumer sentiment. Retail sales were unchanged, and consumer credit is growing. Inflation rises: Both headline and core … Continued
The trend in new daily COVID-19 cases declined again last week, but the vaccination pace slowed as well. In terms of the economy, the jobs recovery lost momentum, but vehicle sales soared. The vehicle market improved upon March’s incredible performance with even tighter supply. New and used retail sales beat the April 2019 performance. Used-vehicle … Continued
After a year’s worth of videos tracking the COVID-19 pandemic’s impact on the auto market, we are launching a biweekly Auto Market Report video series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke will continue to lead our effort to translate data and trends into … Continued
The declining trend in new daily COVID-19 cases accelerated this week, but the vaccination pace also slowed. Consumer sentiment improved, and all measures of consumer confidence saw strong gains in April. Economic activity is continuing to pick up. First-quarter GDP growth accelerated, and spending grew strongly in March to end the quarter, supported by stimulus … Continued