by Still very weak: Since April, sales have increased, but are still down 4.3% from last year. The second graph shows light vehicle sales since the BEA started keeping data in 1967. Note: dashed line is current estimated sales rate of 16.34 million SAAR. Sales-to-date are down 18.8% in 2020 compared to the same period in 2019. In 2019, there were 12.70 million light vehicle sales through September. In 2020, there have been 10.31 million sales. Real estate loan growth is headed back towards 0 from already low levels, and note that with ultra low mortgage rates for the last 10 years or so lending growth hasn’t picked back up to where it was when rates were twice as high:
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WARREN MOSLER considers the following as important: Economic Releases
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WARREN MOSLER writes Consumer sentiment, real retail sales, industrial production, wages
WARREN MOSLER writes New manufacturers orders, vehicle sales, unemployment claims, rents, oil prices
WARREN MOSLER writes Saudi price hike, private payrolls, new hires, corporate profits
WARREN MOSLER writes Pending home sales, Durable goods orders, oil rigs and production
Still very weak:
Since April, sales have increased, but are still down 4.3% from last year.
The second graph shows light vehicle sales since the BEA started keeping data in 1967.
Note: dashed line is current estimated sales rate of 16.34 million SAAR.
Sales-to-date are down 18.8% in 2020 compared to the same period in 2019.
In 2019, there were 12.70 million light vehicle sales through September. In 2020, there have been 10.31 million sales.
Real estate loan growth is headed back towards 0 from already low levels, and note that with ultra low mortgage rates for the last 10 years or so lending growth hasn’t picked back up to where it was when rates were twice as high:
