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Feb 10
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WATCH
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Bob Elliott
Substack author, Nonconsensus
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"car sales were a notable weak spot in Jan (aligning with the JPM data above)." "most of the weakness we have seen Jan is related to a very weak autos print." The author suggests "relatively extreme cold, snow played an important role." The auto sector showed specific weakness in January, potentially due to temporary factors like weather. While the broader consumer is strong, this specific segment experienced a notable slowdown. Watch the auto sector for signs of recovery in February/March, as the January weakness might be transient and weather-related rather than indicative of a fundamental shift in consumer demand for vehicles. A sustained rebound would negate the short-term negative signal. If the January auto weakness proves to be more fundamental (e.g., affordability issues, saturation) rather than temporary, the sector could face continued headwinds. |
Nonconsensus
Dissaving Drives Decent Demand
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