This summary features updated Q2 GDP data, more housing data from July, personal income, spending, and inflation data from July, and readings on consumer sentiment in August. The housing data was weak, but little changed. Consumer spending and income growth accelerated in July, with inflation picking up slightly as expected. Measures of consumer sentiment were … Continued
Starts and existing home sales improved in July, jobless claims are increasing in August, and the Fed is getting closer to cutting rates again. Here is a roundup of key economic indicators that are driving our economy. RESIDENTIAL CONSTRUCTION trends were mixed in July as permits declined and failed to meet expectations, but starts increased … 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 video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Retail sales remained strong in July, even though core inflation reaccelerated, but higher inflation expectations are weighing on consumer sentiment. The initial retail sales report for July saw a slightly slower-than-expected growth in sales, but June’s sales were revised higher. Retail sales remain strong, with July building on a strong June. The consumer is still behind … Continued
The pace of new and used auto sales picked up as prices declined slightly and credit loosened, while loan performance was mixed. New light-vehicle sales increased 6.6% year over year in July, with one more selling day than July 2024. Large fleet buyers contributed strongly to July’s performance. Retail sales also improved. Lower prices and higher incentives … 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 video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Hiring stalls out, inflation ticks up, but real consumer spending remains positive The first estimate of second-quarter real GDP growth showed a sharp rebound as seasonally adjusted annualized growth was 3.0% following a decline of 0.5% in the prior quarter. The increase was driven by a collapse in imports so was again more of an … Continued
The Federal Reserve left monetary policy unchanged today at the conclusion of its fifth scheduled Federal Open Market Committee (FOMC) meeting of 2025, which represented the fifth straight no-change decision. The policy statement and commentary from Fed Chair Jerome Powell haven’t changed much. Still, this decision featured dissension, and that alone suggests that if data … Continued
Key Highlights: Home Sales This week was a light week for important economic data releases, with primarily June data on home sales, which unsurprisingly indicated little change in trend on a down market. With existing home sales decreasing and new home sales increasing only slightly in June, total home sales declined 2.3% for the month … 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 video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
