June Vehicle Sales
FMI Data Analysis July 5
written by Michael Lewis on July 05, 2016
Vehicle Sales disappointed in June; as in March, much of the shortfall came in fleet sales. At the halfway point, 2016 sales are unlikely to break the long-standing record set in 2000, in part because of the surging popularity of ride-sharing services (which, among other things, are beginning to shift consumption to services from goods/autos). Regardless, the vehicle sector and the consumer remain in good shape.
Data Round-Up: PMI Improving Nicely; Real GDP Likely +2.5% in 16Q2
written by Michael Lewis on July 01, 2016
The PMI beat the consensus and reached its highest level since early 2015. Though the PMI’s utility as a GDP proxy has eroded since the Great Recession, today’s reading would imply just under+3% real GDP growth in 16Q2. We are tracking a +2.5% or so gain, with today’s construction data confirming payback after robust residential results in 16Q1.
