Tuesday, May 3, 2011

Car sales remain very strong


April auto sales weren't up much more than expected, but over the past six months they have registered an impressive 15% annualized gain, and over the past year they are up by 16.7%. Contrary to the overall economy, which seems mired in an unusually slow-growth recovery, the magnitude of the auto sector recovery is comparable to the strong recoveries coming out of the 1982 and 1990-91 recessions.

3 comments:

Benjamin said...

This economy reminds of the Los Angeles Dodgers. Parts of the team are strong--but the overall result is just .500.

I realize that for Angels fans (pardon me, The Los Angeles Angels of Anaheim), that might look great. But for non-Angels fans, let me say this economy should be doing a lot better. It needs more oomph.

Lori said...

Benjamin,

The economy reminds me of the full MLB standings.

A few teams are not doing so well.

While some are just muddling along around the .500% mark.

While some are dominating the competition, and batting 1,000.

Yoo hoo, silver and gold traders? Thanks for assistance helping me recently call the top.

Hey, someone has to be the one who over pay for an overpriced, underperforming free agent.

Cheers!

Benjamin said...

NEW YORK (MarketWatch) — Retail stocks erased their earlier gain and turned lower on Wednesday after the Institute for Supply Management’s services-sector index for April unexpectedly declined.

The ISM index sank to 52.8% from 57.3% in March, the private group reported Wednesday. Economists surveyed by MarketWatch had expected the ISM services index to inch up to 57.8% last month.

Is it too soon to call for QE3?