U.S. auto sales for March were reported this week and they came in below economist estimates. Our chart below has a decidedly toppy look, highlighting the challenge the incoming administration faces in in accelerating economic growth.
While the mainstream economic establishment will argue that expansions don’t die of old age, a satiated auto consumer certainly isn’t going to fuel an acceleration in growth.
Keep an eye on the auto market. A continued drop in auto sales could foretell a broader weakening in the economy.
Jeremy Jones, CFA
Latest posts by Jeremy Jones, CFA (see all)
- Trade War Cooling Chinese Demand for American Housing? - June 26, 2019
- Looks Like a Bull Market in Gold - June 25, 2019
- Does that Local Business Google Found for You Even Exist? - June 24, 2019