Wholesale Prices And Consumer Confidence Dips

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Wholesale Prices And Consumer Confidence Dips

📉🔢 Cox Automotive data for October is out and shows used wholesale prices down for the 5th month in a row.

🗓🤓 A 2.2% dip from September to October brings the total to a 10.6% decline year over year.

🚙👪 Cox reports consumer confidence declined 4.9% vs. an expected 1.9%. At the same time, plans to buy a vehicle in the next six months bounced to their highest level since July 2020.

💤😴 Stock market drama, mid-term election noise, and Fed rate hikes likely contributed to the increased consumer wariness.

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