Automotive

Like Jonathan Smoke Sees It

We are not economists, but we feel safe saying you should never be more worried than Dale Pollak and Jonathan Smoke.
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Like Jonathan Smoke Sees It

This week Troublemaker Dale Pollak wrote a "Like I See It" piece for his website about a conversation with Cox Automotive's Chief Economist Jonathan Smoke about the ever-present whispers of a recession. Rooted in making data sing, Jonathan provides a valuable perspective that all who count on Cox Automotive market data trust. The talk gave those involved a more optimistic outlook on whatever may come next. 

👷 🙋Unemployment. Historically a recession starts with a significant increase in Unemployment. Currently, Unemployment and layoffs are low, and job openings are high.

🤑 💰Spending. Consumer spending remains strong. Some sectors are seeing diminished spending, but overall spending remains robust. 

🛍 🛒Sales volume. Dealers are selling a similar number of used vehicles as they have in years before the pandemic. 

😨 😊Sentiment. One outlying factor is the worry consumers pick up from recession-based headlines. If consumers expect a recession, they could CAUSE a recession.

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