Over at FT Alphaville, Cardiff Garcia passes along this striking stat from Credit Suisse:
Vehicle purchases by consumers alone accounted for 30% of all the GDP growth in the last two quarters.
Cars are, ahem, driving the recovery. But will it continue? Auto analysts are expecting another record month of car sales in May: TrueCar.com announced today that it was predicting the highest monthly level of vehicle sales since 2007, up 32 percent since this time last year.
From Credit Suisse's Andrew Garthwaite: The impact on GDP: each 10% rise in the oil price takes 0.2% off US GDP growth and 0.1% off global growth.This time the negative impact of a high oil price on growth is limited as: oil is only... Read Post
Where's the world heading? The Financialist, Credit Suisse's online publication on economic trends and projections, has created an awesome color-coded map that shows its economists' forecasts for real GDP growth during 2013. As well... Read Post