Data & Insight

Economic Trend Tracking

Tracking economic trends for retail auto. 📈
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Economic Trend Tracking

🔴 Inflation Station:

  • Inflation rates have cooled since their peak in June 2022 but remain stubbornly above desired levels.
  • In October, the Bureau of Labor Statistics reported that the core inflation rate rose in September by 4.1% YOY — more than double the Federal Reserve's target of 2%.

🟡 Interest Rates:

  • Interest rates will likely be elevated for quite some time, with economists forecasting only a 1% drop in 2024, which means that it will remain expensive to borrow money.
  • On the flip side, attractive interest rates on high-yield savings accounts will persist as well.

🟢 Market Updates:

  • New vehicle retail sales show a 6.9% YOY climb.
  • Truck/SUVs are expected to have accounted for 79% of new-vehicle retail sales in October.
  • Inventory levels increased by 5.5% from last month (but prices are taking a slight downturn).

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