Deutsche Bank’s U.S. economists are notoriously bullish on 2011 U.S. GDP, and a core reason is the U.S. auto industry.
Economist Carl Riccadona estimates that car sales are going to add 0.7% to 0.8% to GDP in 2011. That’s a big chunk for one single industry, but is the result of a few driving factors:
- Per capita auto sales hit a low during the recession
- Vehicle sales will rise with increases in income and credit access
So nearly a percentage of Deutsche Bank’s bullish 4.5% growth projection is based on auto sales. If you’re gunning for bullish Deutsche, this may be a stat to keep a close eye on.
Photo: Deutsche Bank