For June, July, and August, used-car retailer CarMax reported a 14.4-percent loss in auto loan revenue, year on year, after analysts had forecast 7.4 percent growth.
Category: TRENDS ON THE U.S. ECONOMIC FRONT – Oct 1 2024
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U.S. ECONOMY REBOUNDED QUICKER THAN THOUGHT
The U.S. economy grew faster through 2021, 2022, and early 2023 than was previously estimated, according to revised quarterly data released by the U.S. Commerce Department last week.
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IS CONSUMERS OUTLOOK REALLY BRIGHT?
U.S. consumers’ view of the current and future economy continued to improve in the University of Michigan’s final September reading of its Consumer Sentiment Index.
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INFLATION FALLS FURTHER, FANNING RATE-CUT EXPECTATIONS
The Personal Consumption Expenditures Index, the U.S. Federal Reserve’s most closely-watched inflation gauge, fell to 2.2 percent in August, edging below economists’ consensus forecast of 2.3 percent and strengthening expectations that the central bank will cut rates at least once more this year.
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INFLATION, CONSUMER SPENDING BARELY BUDGE IN AUGUST
The Personal Consumption Expenditures Price Index, which is the U.S. Federal Reserve’s favorite inflation measure ticked up just 0.1 percent in August from July, its smallest rise in three months, the Bureau of Economic Analysis reported.
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ECONOMIC UPDATE – MARKET OVERVIEW
The economic data coming in across the globe is gloomy. The facts are in the numbers. Factory orders in Japan keep shrinking as its PMI slumped to 49.7 in September from 49.8—below the 50.0 mark for the third straight month... which signals negative growth.