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7 November 2017 Car Sales are Falling Rapidly, with no End in Sight (Publication Centre)

The downturn in car sales is showing no sign of abating. Data released yesterday by the Society of Motor Manufacturers and Traders showed that private registrations fell 10.1% year-over-year in October, much worse than the 6.6% average drop in the previous 12 months.

7 February 2017 January's Rise in Car Sales is Misleading, it won't be Sustained (Publication Centre)

The 5% year-over-year increase in private new car registrations in January ended a nine-month period of falling sales. January's increase, however, is unlikely to be a bellwether for car sales over the whole year, or for the strength of consumer spending more generally.

18 November. 2016 New Car Sales Growth is Slowing in the Eurozone (Publication Centre)

Growth in EZ car sales slowed further at the beginning of Q4. New registrations in the euro area fell 1.2% year-over-year in October, down from a 7.2% increase in September.

17 January 2019 Can we still Blame New Emissions Rules for Soggy EZ Car Sales (Publication Centre)

We are still waiting for the promised rebound in EZ car sales.

16 September 2016 Evidence of a Slowdown in EZ New Car Sales is Mounting (Publication Centre)

Yesterday's data on EZ car sales added to the evidence that consumers' spending is slowing. We now reckon sales will rise by 1% quarter-on-quarter in the third quarter, after gains averaging 2.6% in the first half of the year.

15 September 2017 Growth in EZ Car Sales Rose in August, but the Trend Has Slowed (Publication Centre)

Momentum in new EZ car sales improved slightly in the middle of Q3. New registrations in the euro area rose 6.8% year-over-year in August, accelerating marginally from a 5.3% increase in July.

7 June 2018 Car Sales Aren't Recovering Yet, Recent Data are Misleading (Publication Centre)

At first glance, car sales appear to be staging a strong recovery, mirroring the better news on high street spending in Q2.

6 October 2017 The Q3 Recovery in Car Sales Will Prove to be a Dead Cat Bounce (Publication Centre)

Car sales were predictably weak in September, but they could have been a lot worse. Private registrations were down 8.8% year-over-year in the second most important month of the year.

7 August 2018 Car Sales will Remain Stuck in the Slow Lane (Publication Centre)

It would be a mistake to conclude from July's car registrations data that the market finally has turned a corner.

8 May 2019 Don't Extrapolate from April's Double-Digit Decline in Car Sales (Publication Centre)

The 10.3% year-over-year decline in private new car registrations in April likely is not a sign that the trend in either vehic le sales or consumers' overall spending is taking a turn f or the worse.

18 July 2018 Car Sales Likely Lifted EZ Durable Goods Consumption in Q2 (Publication Centre)

Momentum in the EZ auto sector rebounded at the end of the second quarter.

18 February 2019 This Will be a Long Year for Domestic Car Sales in the EZ (Publication Centre)

The EZ manufacturing data have shown signs of a rebound in the auto sector recently.

7 June. Are Falling Car Sales Signalling a Wider Consumer Malaise? (Publication Centre)

Consumer spending has been the main locomotive of the economic recovery over the last couple of quarters, as investment and net trade have dragged on growth. Signs are emerging, however, that consumption is slowing too.

17 October. 2016 Eurozone Car Registrations Slowed Significantly in Q3 (Publication Centre)

Growth in new EZ car sales remained brisk last month, growth slowed in Q3. New registrations rose 9.4% year-over-year in September, marginally lower than the 9.6% increase in August. Growth in France fell most, sliding to 2.5% from 6.7% in August, but sales in Germany picked up to 9.4%, from 8.3%.

18 Apr. 2016 EZ Demand for New Cars Slowed in Q1, and will Slow A gain in Q2 (Publication Centre)

Growth in Eurozone car sales slowed slightly at the end of the first quarter. New car registrations in the euro area rose 5.8% year-over-year in March, down from a 14.4% increase in February. But the 12-month average level of new registrations jumped to new cyclical highs of 440,000 and 252,000 in the core and periphery respectively.

19 Oct. 2015 No Slowdown Yet in EZ Car Sales, But Next Year Will be Different (Publication Centre)

Car sales continue to offer solid support for consumption spending in the Eurozone. Growth of new car registrations in the euro area fell trivially to 10.6% year-over-year in September, from 10.8% in August, consistent with a stable trend. Surging sales in the periphery are the key driver of the impressive performance, with new registrations rising 22.1% and 17.1% in Spain and Italy respectively, and surging 30% in Portugal. Favorable base effects mean that rapid growth rates will continue in Q4, supporting consumers' spending.

16 March 2018 New Car Sales in the Eurozone are Solid, But Italy is a Grim Outlier (Publication Centre)

Growth in new EZ car sales slipped last month, following a strong start to the year. New registrations rose 4.4% year-over-year in February, slowing from a 8.7% rise in January.

BUSINESS INSIDER - Car sales are going through the roof with Europe's surprising spending recovery (Media Centre)

Chief Eurozone Economist Claus Vistesen on European Car Sales

BBC NEWS - UK new car sales rise in September (Media Centre)

Chief U.K. Economist Samuel Tombs on U.K. New Car Sales

26 July 2017 National Surveys are Not Bogged Down by Disappointing PMIs (Publication Centre)

Yesterday's national business surveys provided an optimistic counterbalance to the underwhelming PMIs on Monday, although they all suggest that the euro area economy is in good form.

24 March 2017 Q1 Consumption will be Weak, Despite February's Retail Recovery (Publication Centre)

The 1.4% month-to-month rise in retail sales volumes in February is not a game-changer for the economy's growth prospects in Q1. The increase reversed just under half of the 2.9% decline between October and January. The 1.5% fall in retail sales in the three months to February, compared to the previous three months, is the worst result in seven years.

24 August 2017 Second Estimate of Q2 GDP to Show U.K. Missing out on G7 Boom (Publication Centre)

We expect today's second estimate of Q2 GDP to confirm that the U.K. has been the slowest growing G7 economy this year.

26 Sept 2019 Another Month, Another Increase in French Consumer Confidence (Publication Centre)

Economic news in the Eurozone, and virtually everywhere else, has been mostly downbeat in the past few months, but French consumers are doing great.

27 Aug 2019 India Growth Worries are Overblown... Expect a Q2 Rebound (Publication Centre)

India's GDP report for the second quarter, due on Friday, is likely to show a decent rebound in growth from the first quarter.

30 January 2019 Extremely Downbeat Leading Indicators Should not be Trusted (Publication Centre)

Some closely-watched composite leading indicators for the U.K. economy, and for many others, are flashing red.

3 April 2018 Japan's Labour Market Tightness will Surprise the BoJ (Publication Centre)

Japan's unemployment rate edged back up to 2.5% in February after the drop in January to 2.4%.

21 September 2018 The EZ Consumer is Still in Good Shape (Publication Centre)

Consumer sentiment in the euro area has slipped this year, though the headline indices remain robust overall.

28 June 2019 More Modest Pre-tax Front-Loading for Japan this Time Around? (Publication Centre)

Japan's May retail sales rebound was underwhelming at a mere 0.3% month-on-month, after a 0.1% fall in April.

2 November 2018 Ignore the October Surge in Korean Exports, but Take Heed of Imports (Publication Centre)

Korea's trade data have been extremely volatile over the past two months, thanks to distortions caused by last year's odd holiday calendar.

19 June 2019 Mr. Draghi all but Promises Further Monetary Easing in Sintra (Publication Centre)

It is a known axiom among EZ economists that the ECB never pre-commits, but yesterday's speech by Mr. Draghi in Sintra--see here--is as close as it gets.

19 February 2018 Growth in Households' Spending Won't Recover This Year (Publication Centre)

Slower growth in households' spending was the main reason why the economy lost momentum last year.

30 July 2019 Japan's LDP Sails Through Election Consumers Wary of Tax Hike (Publication Centre)

Japan returned the ruling LDP coalition to power in an upper house election over the weekend.

19 September 2016 Construction Investment Will Boost EZ GDP Growth in Q3 (Publication Centre)

Construction data in the Eurozone usually don't attract much attention, but today's July report will provide encouraging news, compared with recent poor manufacturing data. We think construction output leapt 2.1% month-to-month, pushing the year-over-year rate up to 2.3%, from 0.7% in June. This strong start to the third quarter was due mainly to a jump in non-residential building activity in France and Germany.

2 July 2019 Auto Sales are Solid: Fundamentals are Keeping Sales Over 17M (Publication Centre)

We keep hearing that the auto market is struggling, but that idea is not supported by the recent sales numbers.

20 May 2019 What's to Blame for Stubbornly Low Core Inflation in the EZ (Publication Centre)

Friday's CPI data for April provided the final piece of evidence for the significant Easter distortions in this year's data.

2 October 2018 How Bad Was the Hit to EZ Auto Production in Q3? (Publication Centre)

The industrial sector in the EZ slowed further at the end of Q3.

20 September 2016 The Recycling of the EZ's Current Account Surplus Continues (Publication Centre)

The external surplus in the EZ economy slipped in July. The seasonally-adjusted current account surplus dropped to €21.0B, from a revised €29.5B in June, hit by an increase in the current transfers deficit, and a falling trade surplus. The recent increase in the transfers deficit partly is due to the migrant deal with Turkey, and we expect it to remain elevated.

6 September. 2016 German Services PMI Taints an Otherwise Strong Day for EZ Data (Publication Centre)

Yesterday's EZ PMI data surprised to the downside. The composite PMI in the euro area dipped to 52.9 in August, from 53.2 in July, below the initial estimate 53.3. The headline was marred by weakness in the German services PMI, which crashed to a 40-month low of 51.7, from 54.4 in July.

7 February 2019 Korea's December was Good, not Great Expect Revisions to Q4 GDP (Publication Centre)

Following the publication of Korea's preliminary Q4 GDP report last month--see here--we said the consensus-beating print would be susceptible to downgrades, unless the economy had a miraculous end to 2018

7 December 2018 GDP to Stagnate Again in October, but Markets are Braced for the Worst (Publication Centre)

October's GDP report, released on Monday, might just manage to break through the wall of noise coming from parliament ahead of the key Brexit vote on Tuesday.

19 August. 2016 The Consumer Bubble Will Pop Around the Year-End (Publication Centre)

It would be a serious mistake to conclude from July's retail sales figures that consumers' spending will be immune to the fallout of the Brexit vote. Households have yet to endure the hiring freeze and pay squeeze indicated by surveys of employers, or the price surge signalled by sterling's sharp depreciation. The real test for consumers' spending lies ahead.

7 Nov 2019 GDP Likely Was Little Changed in September, Rounding off a Solid Q3 (Publication Centre)

The economic data calendar for next week is so congested that we need to preview early September's GDP report, released on Monday.

8 March 2019 January's GDP Report to Reassure that Recession Risks Remain Low (Publication Centre)

The sharp 0.4% month-to-month fall in GDP in December and the slump in the Markit/CIPS PMIs towards 50 have created the impression the economy is on the cusp of recession.

9 Oct 2019 Car Output and Sales Data Point to Upside Risk to August's GDP (Publication Centre)

We look for August's GDP report, released on Thursday, to show that output held steady, following July's 0.3% month-to-month jump.

9 February 2018 Hard Data Point to a Slowdown in Q4 German GDP Growth (Publication Centre)

In contrast to the strong December trade numbers in France--see here--yesterday's German data were soft. The seasonally adjusted trade surplus dipped to €21.5B in December, from €22.3B in November.

8 November 2018 September GDP Set To Undershoot the Consensus (Publication Centre)

Friday's GDP report likely will fuel concerns the economy has little underlying momentum. Granted, quarter-on-quarter growth probably sped up to 0.6% in Q3--exceeding the economy's potential rate--from 0.4% in Q2.

6 March 2019 We're Still Not Buying the PMIs' No Growth Message (Publication Centre)

The small rise in the Markit/CIPS services PMI to 51.3 in February, from 50.1 in January, came as a relief yesterday.

6 March 2018 Easing Services Price Pressures Undermine the Rate Hike Case (Publication Centre)

The case for the MPC to hold back from raising interest rates in May remains strong, despite the improvement in the Markit/CIPS services survey in February.

4 June 2019 More Negative News for the Andes Economies, due to Trade Tensions (Publication Centre)

Economic prospects in the Andes have deteriorated significantly in recent weeks, due mainly to the escalation of the trade war.

31 May 2018 Will Chinese Authorities Allow Developer Defaults? Probably (Publication Centre)

Defaults by Chinese companies have been on the rise lately. Most recently, China Energy, an oil and gas producer with $1.8B of offshore notes outstanding, missed a bond payment earlier this week. We've highlighted the likelihood of a rise in defaults this year, for three main reasons.

31 July 2018 Japanese Q2 GDP Growth Should Rebound Strongly (Publication Centre)

Japan's June retail sales data add to the run of numbers suggesting a strong rebound in real GDP growth in Q2, after the 0.2% contraction in activity in Q1.

4 October 2018 Will the Consumer Carry the EZ Economy amid External Risks (Publication Centre)

The news-flow in the Eurozone was almost unequivocally bad over the summer.

5 May 2017 Surveys Signal a Solid Start to Q2, but "Hard" Data Remain Weak (Publication Centre)

Activity surveys picked up across the board in April, offering hope that the slowdown in GDP growth--to just 0.3% quarter-on-quarter in Q1-- will be just a blip. The headline indicators of surveys from the CBI, European Commission, Lloyds Bank and Markit all improved in April and all exceeded their 2004-to-2016 averages.

6 February 2018 The PMIs Show Brexit Risks are Continuing to Dampen Growth (Publication Centre)

The latest PMIs suggest that investors have jumped the gun in pricing-in a 50% chance of the MPC raising interest rates again as soon as May.

6 December 2018 November's Services PMI Bolsters our Below-Consensus Q4 GDP Call (Publication Centre)

The slump in the Markit/CIPS services PMI in November to its lowest level since July 2016 provides the clearest indication yet that uncertainty about Brexit has driven the economy virtually to a stand-still.

31 January 2018 Japan's Labour Market Squeeze is set to Intensify Further (Publication Centre)

Japan's headline jobless rate edged up to 2.8% in December, from 2.7% in November, but the increase was negligible, with the rate moving to 2.76% from 2.74%.

17 November. 2016 Will Europe Have to Increase Spending on Defence Soon? (Publication Centre)

The winds of global politics are changing, and the major Eurozone countries could be forced to take heed. Donald Trump's foreign policy position remains highly uncertain. Our Chief Economist, Ian Shepherdson, expects the U.S. to increase defence spending next year; see the U.S. Monitor of October 20.

14 December 2017 The ECB Will Deliver a Carbon Copy of its October Meeting Today (Publication Centre)

Car registrations, French inflation, advance PMIs and a central bank meeting make up today's substantial menu for investors in the euro area.

14 August 2018 Did the PBoC Effectively Cut Rates in August (Publication Centre)

China's M2 growth surprised on the upside in July, rising to 8.5% year-over-year, from 8.0% in June.

13 Aug 2019 The Pillars of Japanese Domestic Demand are Built on Shaky Ground (Publication Centre)

GDP growth in Japan surprised to the upside in the second quarter, although the preliminary headline arguably flattered the economy's actual performance.

14 February 2018 Look for a Disappointing Q4 German GDP Report Today (Publication Centre)

Today's Eurozone data will provide further details on what happened in Q4. Advance data suggest that industrial production rose a modest 0.1% month- to-month, lifting the year-over-year rate to 4.3% in December, from 3.9% in November.

15 December 2017 Strong November Sales Mean Q3 Consumption Heading for 3% (Publication Centre)

The 0.8% jump in nominal November retail sales is consistent with a 0.4% rise in real total consumption, which in turn suggests that the fourth quarter as a whole is likely to see a near-3% annualized gain.

15 Sept. 2015 Subdued EZ Manufacturing is in Line with the Rest of the OECD (Publication Centre)

Industrial production data yesterday indicate manufacturers in the Eurozone enjoyed a decent start to Q3, thanks to strength in Germany, Italy and Spain, which offset weakness in France. Production ex-construction rose 0.6% month-to-month in July, boosted in part by a 3% jump in energy output. If production is unchanged in August and September, output will rise 0.3% quarter-on-quarter in Q3, but this estimate is uncertain, and we look for an increase of about 0.4%-to-0.5%.

19 April 2017 Another Political Hand Grenade is Thrown in European Politics (Publication Centre)

Economic news in Europe continues to take a back-seat to volatility in politics. Yesterday's announcement by U.K. Prime Minister Theresa May that she is seeking a snap general election on June 8th cast further doubt over what exactly Brexit will look like.

15 December 2017 The ECB's forecasts are wishful thinking (Publication Centre)

The ECB did its utmost not to say or do anything remotely novel today. The central bank kept its main refinancing and deposit rates unchanged at 0.00% and -0.40%, respectively, and reiterated its plan for QE next year.

11 October 2018 Weak GDP in August Sets the Tone for the Rest of this Year (Publication Centre)

The stagnation of GDP in August, following five consecutive month-to-month gains, confirms that the economy's momentum in prior months was simply weather-related.

11 January 2019 Downside Risk to December's CPI Watch Used Auto Prices Airline Fares (Publication Centre)

The CPI report due today will be released on schedule, because the Bureau of Labor Statistics, which compiles the data, remains open during the partial government shutdown.

1 June 2017 ADP Likely to Rebound Strongly, but Probably Will Overstate Payrolls (Publication Centre)

We're expecting a strong-looking 225K increase in the May ADP measure of private sector payroll growth, due today. The consensus forecast is 180K.

1 February 2018 China PMIs Distorted by Holiday E ects, Missing the Curbs Impact (Publication Centre)

China's manufacturing PMIs have softened in Q4. Indeed, we think the indices understate the slowdown in real GDP growth in Q4, as anti-pollution curbs were implemented. More positively, though, real GDP growth should rebound in Q1 as these measures are loosened.

06 Jan. 2016 The Services PMI isn't the Final Word on the Economy's Health (Publication Centre)

Unanticipated movements in the Markit/CIPS services PMI often provoke big market reactions, despite its shortcomings as an indicator of the pace of growth. We suspect December's PMI, released today, could surprise to the downside, reversing most of its rise in November to 55.9 from 54.9 in October. Regardless, we place more weight on the official data, which is more comprehensive and shows clearly the recovery is slowing.

1 October 2018 Italy's 2019 Budget Plans are Not as Bad as the Market Thinks (Publication Centre)

Bond investors in Italy voted with their feet on Friday with news that the government has agreed a 2019 budget deficit of 2.4%.

10 May 2018 Still-Weak Consumption Means the MPC has to Tread Carefully (Publication Centre)

The MPC was relatively bullish on the outlook for households' spending when it signalled its view, in February's Inflation Report, that the case for raising interest rates before the end of this year had strengthened.

11 August. 2016 Household Spending Will Not Defy Gravity For Long Surveys (Publication Centre)

Recent retail surveys have indicated that consumers are not suffering yet from Brexit blues. The BRC reported that year-over-year growth in total sales values picked up to 1.9% in July, from 0.2% in June. After adjusting for falling prices, this measure suggests that year-over-year growth in official retail sales volumes held steady at about 4% last month.

10 September 2018 Japan's Big Wage Increases Point to Robust Q3 Private Consumption (Publication Centre)

Japan's labour cash earnings rose by 1.5% year-over- year in July, a strong result in the Japanese context, if it hadn't been preceded by the 3.6% leap in June.

16 April 2018 Core Retail Sales Back on Track After Hurricane-Induced Swings? (Publication Centre)

We are not concerned by the slowdown in retail sales over the past few months.

15 November 2017 Increasing Political Volatility Outshines Strong Brazil Sales Data (Publication Centre)

Politics remain centre-stage in Brazil, despite positive news on the economic front. President Michel Temer's government continues to advance pension reform, despite the tight calendar and concerns about his political capital. But volatility is on the rise.

18 April 2019 The March Dip in the Core EZ CPI is Old News It will Jump in April (Publication Centre)

Yesterday's final EZ CPI data for March confirmed the message from the advance report that inflation pressures eased last month.

16 February 2018 French Unemployment Plunged in Q4, and will Fall Further this (Publication Centre)

The French labour market improved much more than we expected in Q4. The headline unemployment rate plunged to 8.9%, from a downwardly-revised 9.6% in Q3.

17 November 2017 A Perfect Mix of Low Core Inflation and High GDP Growth in the EZ (Publication Centre)

Yesterday's CPI report in the Eurozone confirmed that inflation pressures remain subdued, even as GDP growth is accelerating.

18 July 2019 Construction in the EZ Slowed in Q2, Denting GDP Growth (Publication Centre)

Yesterday's economic data provided further evidence that GDP growth in the EZ economy slowed in Q2.

18 March 2019 Beware the Easter Effect in EZ Core Inflation in March and April (Publication Centre)

Data on Friday confirmed that headline inflation in the Eurozone rose a bit last month, to 1.5% from 1.4% in January, but also that the core rate dipped by 0.1 percentage points, to 1.0%.

18 October 2018 Headline Inflation in the Eurozone will Stay Close to 2% in Q4 (Publication Centre)

Headline inflation in the EZ remained elevated in September, rising by 0.1 percentage point to 2.1%, while the core rate was unchanged at 0.9% in August; both numbers are in line with the initial estimates.

18 November. 2016 Price Rises Will Soon Curtail the Surge in Retail Sales (Publication Centre)

October's colossal 1.9% month-to-month jump in retail sales volumes greatly exceeded the 0.5% consensus and even our own top-of-the- range 1.0% forecast.

17 May 2017 Strong Q1 Confirmed for the EZ, but will Momentum Persist in Q2? (Publication Centre)

Yesterday's economic reports confirmed that the Eurozone economy had a strong start to 2017. Real GDP rose 0.5% quarter-on-quarter in Q1, similar to the pace in Q4, and consistent with the first estimate. The year-over-year rate fell marginally to 1.7%, from 1.8% in Q4, mainly due to base effects.

17 Oct 2019 Early Signs of Stabilisation in the Eurozone Auto Sales Data (Publication Centre)

The beleaguered EZ car sector finally enjoyed some relief at the end of Q3, though base effects were the major driver of yesterday's strong headline.

16 November 2018 The EU's New Car Emissions Rules Cast a Long Shadow over the EZ (Publication Centre)

Economic data in the Eurozone auto sector remain under the influence of the aftershock from the EU's new emissions regulation--WLTP-- introduced in September.

17 July. 2015 A Dovish Mr. Draghi Assures Markets the ECB is Here to Help (Publication Centre)

Yesterday's ECB press conference confirmed our view that Mr. Draghi is the periphery's friend, not enemy. Crucially, the central bank agreed to increase emergency liquidity assistance--ELA--to Greek banks by €900M. This is consistent tent with the agreement by the Eurogroup to give Greece €7B bridge financing, and shows the ECB is ready to act on the back of only a temporary truce between Greece and the EU. The increase in ELA is modest, and we doubt a painful restructuring of the banking system can be avoided. But with Greek bond yields falling, the available pool of collateral will go up, allowing the central bank to provide further relief in coming weeks.

16 January 2018 The Eurozone's Trade Surplus Will Fall in the First Half of 2018 (Publication Centre)

The euro area's external surplus remained resilient toward the end of 2017, in the face of a stronger currency. The seasonally adjusted trade surplus rose to €22.5B in November, from €19.0B in October, lifted primarily by a jump in German exports.

17 Apr. 2015 Greece and its Eurozone creditors are teetering on the brink (Publication Centre)

The Eurosystem's position on Greece, echoed by Mr. Draghi earlier this week, is that progress on a deal is up to the Syriza-led government. But recent comments by German officials have added to the speculation that a Grexit is getting closer.

16 June. 2015 EZ External Demand on Track for Healthy Rebound in Q2 (Publication Centre)

Net exports should come roaring back as a driver of Eurozone GDP growth in the second quarter. The euro area trade surplus leapt to €24.3B in April, a new all-time high, up from a revised €19.9B in March. A 1.7% month-to-month fall in imports--mean-reversion from a 3.9% increase in March--was a big contributor to the higher surplus.

17 December 2018 The Grinch Has Taken Charge of Economic Data in the Eurozone (Publication Centre)

The Eurozone economy finished last week with a horrendous set of economic data.

17 February 2017 EZ consumers' demand for new cars will slow in 2017 (Publication Centre)

EZ households' demand for new cars was off to a strong start in 2017. Car registrations in the euro area jumped 10.9% year-over-year in January, accelerating from a 2.1% rise in December. We have to discount the headline level of sales by about a fifth to account for dealers' own registrations. Even with this provision, though, the January report was solid. Growth rebounded in France and Germany, and a 27.1% surge in Dutch car registrations also lifted the headline. We think car registrations will rise about 1.5% quarter-onquarter in Q1, rebounding from a weak Q4. But this does not change the story of downside risks to private spending.

BBC - UK car sales fall 9.3% in July says motor trade body (Media Centre)

Chief U.K. Economist Samuel Tombs on U.K. New Car Registrations, July

BBC - UK car sales fall for fifth month in a row (Media Centre)

Chief U.K. Economist Samuel Tombs discussing U.K. New Car Registrations

18 January 2017 Will Slower Growth in EZ Car Sales Hit Total Consumption this Year? (Publication Centre)

Demand for new cars in the Eurozone has climbed a long way since the last recession, but growth is slowing. Overall, new car registrations in the EZ rose a solid 15.2% in 2016 as a whole. But momen tum slowed in the second half, and sales likely will remain comparatively muted this year. In December, registrations in the euro area rose 2.1% year-over-year in December, down from 5.8% in November. The headline was depressed by plunging growth in some of the smaller countries, offsetting better numbers in the major four economies.

19 June 2017 Don't be Deceived by Jumping EZ Car Sales, Momentum is Slowing (Publication Centre)

Demand for new cars in the Eurozone rebounded last month. New car registrations jumped 10.3% year-over-year in May, reversing the 5.1% decline in April. The headline was boosted by solid growth in all the major economies.

7 September 2017 Scrappage Schemes Will Only Postpone the Slump in Car Sales (Publication Centre)

Car manufacturers have been at the sharp end o f the slowdown in consumers' spending this year. In response, several brands have launched generous scrappage schemes, giving buyers a big discount when they trade in their old vehicle.

12 Nov 2019 The Downside Surprise from Q3 GDP has a Silver Lining (Publication Centre)

The headline figures from yesterday's GDP report gave a bad impression. September's 0.1% month-to- month decline in GDP matched the consensus and primarily reflected mean-reversion in car production and car sales, which both picked up in August.

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