All Posts Tagged: auto sales
U.S. GDP growth sputtered in the first quarter. This was the worst performance from the U.S. economy since the first quarter of 2014.
For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on April 28.Key observations:
- The large decline in durable goods spending appears to have been driven by weak vehicle sales, which declined for three consecutive months during the first quarter.
- I believe part of the weakness in consumer spending in the first quarter was payback for a consumer who probably overdid it in the fourth quarter.
- Overall price inflation came in somewhat hotter than analysts expected.
- The next rate hike from the Fed will likely come in June, if second quarter growth evolves as we envision.
Coming off a weak August, the data we have received so far for September shows economic growth bounced back decisively last month.Read More ›