Annualized U.S. assemblies of autos and light trucks fell 1.7% to 11.29 million units in May (seasonally adjusted), and were down 0.4% from prior year. Assemblies have recovered somewhat since March when they were at the lowest level since February 2015. Seasonally adjusted assemblies have been at or above an 11-million unit pace since March… Read more »

Annualized seasonally adjusted U.S. sales (SAAR) of domestic and foreign autos and light trucks fell to 16.58 million in May, coming in below the consensus forecast (16.9 million). Sales were 3.1% below prior year sales and were down 1.4% from prior month. Year-over-year sales for our three month moving average (graphed) was down 2.2%. Imported… Read more »

The U.S. Bureau of the Census reported that seasonally adjusted real retail and food service sales were down slightly (-0.1%) at $194.3 billion in May. (Note that actual sales are deflated using CPI 1982 – 1984 = 100). May sales were 1.9% higher than the prior-year period. Nominal (unadjusted for inflation) seasonally-adjusted retail sales totaled… Read more »

According to the U.S. Census Bureau and the Department of Housing and Urban Development, single-family new home inventories increased to 268k in April (seasonally adjusted). Inventories are at the highest level since July 2009. April’s new home inventories were 27k (11.2%) above the prior-year level of 241k. New home inventories still remain somewhat low by… Read more »

The Institute of Supply Management (ISM) reported that the Purchasing Managers’ Index (PMI) increased slightly to 54.9 in May from 54.8 in April. So far every month of 2017 has had a higher index than any month of 2016. After contracting in August 2016, the manufacturing sector has expanded at a strong pace.  PMI came… Read more »

Weekly retail on-highway U.S. diesel prices decreased by 0.7 cents to $2.564 per gallon on June 5, continuing a trend of very modest fluctuations up and down in every week this year. Diesel has ranged between 2.53 and 2.60 per gallon since 12/19, never rising by more than 4.6 cents or falling by more than… Read more »

Housing starts totaled 1.172 million in April (seasonally adjusted annual rate – SAAR) down 2.6% from prior month’s revised figures, but up 0.7% from April 2016 results, and were below expected levels. Single family starts totaled 835k (SAAR), down 0.4% from March and up 8.9% year-over-year. Starts of multi-unit (5+)structures were 328k (SAAR) down 9.6%… Read more »

The U.S. Bureau of the Census reported that seasonally adjusted real retail and food service sales were up slightly (+0.2%) at $194.5 billion in April. (Note that actual sales are deflated using CPI 1982 – 1984 = 100). April sales were 2.2% higher than the prior-year period. Nominal (unadjusted for inflation) seasonally-adjusted retail sales totaled… Read more »

Weekly retail on-highway U.S. diesel prices decreased by 0.5 cents to $2.539 per gallon on May 22, continuing a trend of very modest fluctuations up and down in every week this year. Diesel has ranged between 2.53 and 2.60 per gallon since 12/19, never rising by more than 4.6 cents or falling by more than… Read more »

Entering May, van capacity is tighter than in May 2016, is almost identical to 2015 and 2013, and is getting closer to the longer term average for this time of year. The index has recovered most of its falloff from January into February. Capacity started to tighten up a little through July of 2016, but… Read more »