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To today’s note.
The Observatory is our real-time monitoring of the US economy. It offers a regular, systematic dissection of virtually every major fundamental macro data set released in the US. We scan the time-series characteristics, sectoral decompositions, macro-cycle implications, and the effects on GDP and inflation of each release, with an understanding of the nuances and specific manipulations required for each data series. The Observatory seeks to paint a moving picture of the economic cycle, print by print.
We share our latest note from The Observatory: Motor Vehicle Monitor.
Synthesis: Motor vehicle sales continue to expand, albeit with significant volatility. Domestic production and capacity utilization of the motor vehicle industry continue to look limited. However, nominal sales and employment continue to show an expanding industry. Motor vehicle activity continues to be modestly positive for GDP conditions, though volatility persists.
Read all the data driving this assessment below:
