Car and Truck Sales

August 4, 2020 Unit car and truck sales rose 11.1% in July to 14.52 million after climbing 7.2% in June and surging 39.5% in May.  But those gains only partially offset the stunning declines of 31.9% in March and 23.4% in April.  Car sales in February — before...

Personal Income and Consumption Expenditures — Monthly

July 31,  2020 Personal consumption expenditures rose 5.6% in June after having risen 8.5% in May after having plunged by 12.9% in April after having dropped by 6.7% in March.     What we are really interested in is consumption spending in real terms (i.e., after...

Forget the Stimulus

July 24, 2020 Our policy makers in Washington are talking about another stimulus bill of $1.0-3.0 trillion.  But the economy does not need the help.   Every economic indicator has rebounded vigorously.  Third quarter GDP growth should be roughly the same magnitude as...