Auto sales were weak. For some time in The Peter Dag Portfolio I have been writing auto sales have reached a saturation point and with weaker housing sector will be a major headwind for the economy.
This month data suggest this is exactly what is happening (See above chart. Click on the chart to enlarge it). Sales classified as "motor sales and parts dealers" declined -0.4%.
I keep expecting weak auto sales and housing starts. These are two major job producing economic sectors of the economy.
The question I have is where will the growth of the economy be coming from?
You will find more details on how these ideas apply to portfolio management in The Peter Dag Portfolio on www.peterdag.com
George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977 Author, Profiting in Bull and Bear Markets
No. 1 bond timer in the past 12 months.
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