May 3, 2024

Unit car and truck sales rose 1.1% in April to 15,736 thousand after  having fallen 0.9% in March  The supply challenges that had curtailed car sales for more than two years has ended.  The supplier delivery component of the purchasing managers’ index actually fell below the 50.0 level for the first time in October of 2022 meaning that manufacturers were actually seeing faster deliveries, and it is currently at the breakeven 50.0 level.

We expect GDP growth of  3.0% in the second quarter of this year.  Steady gains in employment and higher wages should keep the economy going.  we then look for 2.0-2.5% GDP growth in the final two quarters of the year.

Stephen Slifer

NumberNomics

Charleston, SC