This is what a recovery looks like.
From Calculated Risk:
Based on an estimate from Autodata Corp, light vehicle sales were at a 14.18 million SAAR in January. That is up 12.1% from January 2011, and up 5.1% from the sales rate last month (13.5 million SAAR in Dec 2011).This was well above the consensus forecast of 13.6 million SAAR.
As we pointed out this morning, there’s a strong connection between car sales and labour data, so this is great to see.
Photo: Calculated Risk