Auto Sales at 7 Year High

by Marilou Long on June 4, 2014

in Economic Indicators,Employment,Energy

It appears that the U.S. consumer has bounced back from the winter blues.  May of 16.8 million units at an annual rate.  This number bodes well for a better Q2 GDP number than the -1.0 we saw for the first quarter.  The definition of a recession is two quarters of negative GDP numbers, and the mixed economic data has kept market participants on the sidelines.  We think that this latest auto number combined with the strength in oil and the downward trend in unemployment claims indicate that the second quarter will show positive GDP growth.

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