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Auto sales were so strong in May it moved the needle on GDP

2015-06-03 05:49:33| Auto Dealers - Topix.net

In May, the pace of auto sales in the US rose to a seasonally adjusted annualized rate of 17.79 million vehicles according to Autodata, a new post-recession high and the fastest pace in almost 10 years. In a note to clients following the report, Jesse Hurwitz, an economist at Barclays, said, "We have been looking for a bounce back in consumption growth following the puzzlingly weak April data and today's sales reports from auto manufacturers suggest these gains are starting to materialize."

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