Despite Distractions, US Economic Recovery Gains Momentum

Recent distractions with economic uncertainty in Europe have turned many heads, but the strong U.S. economic recovery rolls on. Just about all new U.S. economic reports are now posting positive results. This past week was no exception.

A very strong month-to-month surge in new manufacturing orders and additional employment boosts highlighted another robust ISM . . . → Read More: Despite Distractions, US Economic Recovery Gains Momentum

Economic Events on May 3, 2010

The figures for motor vehicle sales in April will be released today.  The consensus estimate is that 8.8 million autos were sold in April, which would be the same number of autos sold in March.

At 8:30 AM EDT, the monthly Personal Income and Outlays report for March will be released.  The consensus for . . . → Read More: Economic Events on May 3, 2010

Easter Week Issues a String Of Positives

The last week of economic news has been quite notably positive.

Last Wednesday, March 31, started with the Mortgage Bankers Association reporting that its purchase index was up a very sharp 6.8 percent for the fourth gain in the last five weeks.

A few hours later Chicago’s arm of the Institute of Supply Management . . . → Read More: Easter Week Issues a String Of Positives

Ford Reports Best Monthly Sales Increase In Over 25 Years

On Thursday Ford Motor Co, said gross sales rose 43% in March.   The increase — which mirrored (yet surpassed) a similar gain in February — had Ford registering the highest monthly sales increase since February 1984.

Other auto business is also up.  GM reported a 43% increase.  Toyota said unit sales are . . . → Read More: Ford Reports Best Monthly Sales Increase In Over 25 Years

Economic Events on April 1, 2010

At 8:30 AM EDT, the weekly report on initial jobless claims will be released, and the consensus is 440,000 new jobless claims, which would be a slight improvement over last week’s better than expected report, and would continue the positive trend in employment.

At 10:00 AM EDT, the Construction Spending report will be released, . . . → Read More: Economic Events on April 1, 2010

Dubai Fears Fade: Positive Economic Data Builds

What a difference a few days have made in the mainstream headlines.

Overblown concerns about Dubai defaults are quickly shifting to the into the shadows. On Tuesday clarity on the extent of the loan restructuring indicated that Dubai World likely would restructure debt worth $26 billion against earlier talk of a possible $59 billion . . . → Read More: Dubai Fears Fade: Positive Economic Data Builds

Auto Sales Cruise Ahead in October

On Tuesday major auto manufacturers indicated that their October sales rebounded significantly following a weak September.

The increase to the US annualized sales rate was nearly 20 percent better than September’s measure. Early estimates show the bump adding $5 billion, or roughly 1.5% to October’s retail sales numbers versus September’s readings.

It now appears . . . → Read More: Auto Sales Cruise Ahead in October

The Remarkable Indian Automobile Industry

Swaminathan S. Anklesaria Aiyar has an article in Economic Times on India’s remarkable emergence as an exporter of automobiles. Mahesh Vyas has an article in Business Standard on the recent rebound in automobile production and sales. And, here’s the link to the CMIE website on cars.

It’s interesting to look at (seasonally adjusted) US . . . → Read More: The Remarkable Indian Automobile Industry

Is GM’s Money-Back Guarantee Good News?

Last week General Motors (GM) announced their new program that further attempts to boost consumer confidence in their vehicles. The money-back guarantee states that you can return the vehicle for any reason, no questions asked, up to 60 days after purchase.

A quote from GM’s press release reads like this:

General Motors . . . → Read More: Is GM’s Money-Back Guarantee Good News?

Clunkermania Part 2: Senate Agrees to Move Forward

It looks like packed US car dealerships will continue. Late Wednesday the Senate majority leader Harry Reid announced that the US Senate now has enough votes to pass the House version of a bill to extend the popular automobile stimulus program.

Car manufacturers, their dealerships, and factory workers across the country are cheering. The . . . → Read More: Clunkermania Part 2: Senate Agrees to Move Forward