Tuesday, April 1, 2014
With warmer weather, March light vehicle sales bounced back stronger than expected (16.33M vs. 15.80M), marking a new post-recession high and up 81% from their recession lows. This has been the most dramatic recovery in auto sales in modern times. I note that total employment today is still about 500K shy of its pre-recession high, but auto sales are now back to pre-recession levels. It's been the worst recovery ever, but it's nevertheless a recovery in many ways.
Posted by Scott Grannis at 1:05 PM