- by New Deal democrat The BEA finally released its preliminary report on December motor vehicle sales yesterday, and it is yet more confirmation of the trends I’ve been discussing recently: there is a deepening producer recession, but the consumer is alright - although with some signs of wobbling. Let’s look at heavy truck sales first, which tells us about the producer side of the ledger. These were estimated at .497 million annualized. FRED won’t update their graph until the final numbers are in later this month, so in the meantime I have subtracted .497 from the annualized number so that December would be 0 in the below historical graph: This confirms that November’s steep plunge was not an outlier. The average of the past two months is more than 15% lower than September’s
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- by New Deal democrat