Key Highlights: Labor Market The employment report for May was mostly better than expected, but reflects slowing job growth as the economy adjusts to tariffs and much slower immigration. New-Vehicle Market The new-vehicle SAAR declined in May, but the retail SAAR was still stronger than the pace prior to the short-lived tariff-induced frenzy. Consumers are … Continued
Key Highlights: GDP The decline in real GDP in the first quarter was revised down slightly in the second estimate, but the decline was mainly an accounting technicality based on surging imports. Personal Income and Spending Consumer spending growth decelerated in April following a surge in March. Year-over-year measures of inflation that the Fed follows … 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
Key Highlights: Existing and New Home Sales Existing home sales declined in April to Great Recession levels. Inventory increased, but overall supply remains tight, and prices were up 1.8% year over year. New home sales increased in April, leading total home sales higher for the month, but sales were down year over year. Jobless Claims … Continued
Key Highlights: Inflation Trends Headline inflation was softer than expected in April as year-over-year inflation, according to the Consumer Price Index (CPI), declined to 2.3% while core inflation was steady at 2.8% year over year. Retail Sales Retail sales in April were slightly better than expected, but category-level performance was mixed, with seven of twelve … 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
Key Highlights: New-Vehicle Sales and Prices The new-vehicle seasonally adjusted annual rate (SAAR), or sales pace, declined slightly in April but remained up substantially year over year as buyers were motivated to buy ahead of tariff-related increases to prices. Used-Vehicle Market The used market also saw month-over-month declines but gains year over year. Used prices … Continued
The Fed left monetary policy unchanged today at the conclusion of their third scheduled meeting of 2025. No changes have been made so far this year. This meeting did not include updated forecasts or dot plots, leaving the financial markets with little new information. The market has been more optimistic about rate cuts in 2025 … Continued
Key Highlights: GDP and Spending The first estimate of GDP for the first quarter showed a decline in the economy, but it was mainly an accounting technicality based on surging imports. The data show that tariffs are having an impact, and besides surging imports, consumer spending is slowing. Consumer Spending While the GDP data showed … 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
