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Sentiment survey finds inflation, unemployment concerns, plans to cut spending on items with price hikes.
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Retail sales dropped 1.3% in May, following a 0.9% gain in April, reported the U.S. Department of Commerce.
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J.D. Power and LMC Automotive said this week that consumers are on pace to spend more than $32 billion on new vehicles this month, a first for the month of February. The two firms noted, however, that their projected 13.9 million retail SAAR is the lowest level since June and well below the 15.3 million pace set last September.
Read More →The National Automobile Dealers Association maintained its 16.94 million-unit prediction for new-vehicle sales in 2015. The association’s chief economist said the trade group is revising its outlook for the Fed raising rates, as low oil and gas prices continue to limit inflation.
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