Friday, July 2, 2010
Car sales in June were a bit weaker than expected, but they were nevertheless up 14% from year-ago levels. This series is notoriously volatile from month to month, so looking at the trend is the only way to make sense of it, and to me the trend is clearly up, and at a fairly rapid pace. That's not surprising given the depths to which sales fell—the rebound should be impressive. Nothing here to suggest the economy is "rolling over." I keep searching, but I can't find the signs that point to the double-dip recession that everyone seems to be expecting.
Posted by Scott Grannis at 7:58 AM