-February, 12,2023-
U.S. vehicle sales rose 17.7% month-on-month to 15.7 million (annualized) units in January. This was slightly above the consensus forecast which called for a gain to 15.5 million.
Unadjusted sales volumes were 1.03 million units or 4.2% above year-ago levels. The average daily selling rate was 43,042 – calculated over 24 days – up from January 2022’s 41,316 daily rate.
Passenger vehicle sales increased 2.9% year-on-year while sales of light-trucks ticked up by 4.5% y/y. Light-trucks accounted for 80% of last month’s sales, roughly equal to its share in January 2022.
WSJ reports the number 13,275 : That was the average weekly shipments of motor vehicles and parts carried by North American railroads so far this year, a 16% increase over 2022, according to the Association of American Railroads.
WSJ:
Consumer sentiment at 13-month high in early February: University of Michigan
An index of consumer sentiment rose in early February to an 13-month of 66.4, signaling Americans are cautiously optimistic about the U.S. economy as inflation ebbs.
The gauge rose from 64.9 in January, the University of Michigan said in its preliminary report. It was the third straight increase and well above the record low of 50 set last summer.
Consumer sentiment is still fairly weak, however. The index is far below its Coronavirus-era peak of 88.3 in April 2021 and a pre-pandemic high of 101.
The survey produced another gauge that measures what consumers think about their financial and the current health of the economy. It climbed to 72.6 last month from 68.4. That’s the highest level in 14 months.