Gavekal Capital: US Posts Strong November Auto Retail Sales

Thursday, December 12, 2013

US Posts Strong November Auto Retail Sales

November's retail sales posted a strong 0.7% month-over-month gain which was slightly above consensus expectations (0.6%). This is even more impressive when we consider that October's 0.4% gain was revised up to 0.6%.

Auto's contributed to the strong retail number as they gained 1.8% month-over-month to an all-time high. Import prices also showed that imported auto prices declined by 1.4% year-over-year. This deflationary pressure on auto prices from abroad looks like it will continue in the near future.

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