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Auto sales are propping up the U.S. economy
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.
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Credit Suisse Explains When You Should Start Worrying About Oil Prices
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
MAP: Credit Suisse's 2013 Growth Forecast For Every Major Economy In The World
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
US car sales growth slows
VEHICLE sales in the US ran at the slowest pace in 12 months last month, as the supply of small family cars dwindled, Toyota’s inventory thinned and consumers deferred purchases amid a slowing economic recovery. ||| VEHICLE sales in... Read Post