American consumers continued to spend more at retail stores in April despite inflation as lower gasoline prices helped to boost spending on discretionary items. But it won't last long as gasoline prices reached a record high in May. Retail sales in the United States rose by 0.9% in April from a ... READ MORE >
auto sales
Canada’s retail sales increased by 1.6% in October but new virus threat looms
Retail sales in Canada climbed by 1.6% to $57.6 billion in October thanks to rebounding sales of motor vehicles and parts, according to data released by Statistics Canada on Tuesday. But the data was captured before the recent surge of the omicron variant of the coronavirus, which in a matter of ... READ MORE >
Canada manufacturing sales hit new high amid rising energy demand
Canada’s manufacturing sales increased by 0.5% to CA$60.3 billion in August, their highest level on record, according to data released by Statistics Canada on Thursday. This growth was mainly driven by high energy demand and prices. August marked the first month of all provinces lifting most COVID-19 ... READ MORE >
Lack of inventory dampening auto sales
Supply chain constraints inside the global auto ecosystem have dampened overall sales as producers struggle to keep up with demand until advanced microchip production ramps up. Lack of inventory and access to sophisticated technology that consumers demand in new automobiles will almost certainly ... READ MORE >
CHART OF THE DAY: U.S. durable goods orders accelerate on the back of strong auto demand
U.S. orders for durable goods rose 11.2% in July compared to June, led by strong automobile demand, according to Census Bureau data. This uptick further bolsters the belief that manufacturing activity will help lead the U.S. economic recovery. Orders for motor vehicles and parts jumped 21.9% in July, ... READ MORE >
CHART OF THE DAY: Auto inventory slump may be sign of upcoming sales strength
Auto sales have accelerated over the past three months, with July U.S. new vehicle sales hitting their highest point since mid-January, according to data compiled by Ward’s Automotive Group. This has resulted in historically low inventory levels at dealer lots across the United States, with 371,000 unsold ... READ MORE >