September vehicle sales are running at a 17.5 M rate
September vehicle sales are running at a 17.5 M rate, with Ford, GM, Chrysler, Toyota, Honda and Nissan all reporting. This is much stronger than the 16.6 M August and 16.7 M July pace and possibly reflects a boost post Hurricane Florence. A 17.5 M vehicle sales rate should translate to a 0.6% rise for retail sales in September, with a 0.3% ex-autos increase. Analysts expect a 0.5% September rise in personal consumption with a 0.3% "real" increase, and a 0.1% PCE chain price rise that slightly undershoots an assumed 0.2% September CPI increase. Analysts estimate Q3 growth rates of 5.3% for nominal consumption and 3.7% for "real" consumption, following respective Q2 growth rates of 5.9% and 3.8%, with GDP growth of 3.1% in Q3 after a 4.2% Q2 clip.