Global| Nov 02 2007EU Registrations Up in August but Still with Challenged Trend
Summary
Car registrations rose in the EU by 1.9% in August, their second monthly gain in a row. Still, sales trends are uncertain after some real volatility from February through July. Except for a real spike in July flanked by two severe [...]
Car registrations rose in the EU by 1.9% in August, their second monthly gain in a row. Still, sales trends are uncertain after some real volatility from February through July. Except for a real spike in July flanked by two severe months of declines, car registrations have been downbeat. The EU numbers today are completed by release of the French car registration figures that show a decline in August. With two months gone in the third quarter, car registrations are dropping at a 14% annual rate in France. For the EU, car registrations are up at a 10% pace in Q3. For August, a rebound in Germany and strength in Italy have helped to push the registration numbers up for EMU in face of declines in the UK and France. On the whole, though, car sales are as irregular as ever and hard to count on.
| EU Car Registrations | ||||||
|---|---|---|---|---|---|---|
| Month-to-month | Saar | |||||
| Aug-07 | Jul-07 | Jun-07 | 3-Mo | 6-Mo | 12-Mo | |
| EU Total | 1.9% | 1.8% | -7.5% | -15.3% | 11.5% | 0.7% |
| from 3Mo Moving average | -1.4% | 2.6% | -0.6% | 2.0% | 1.6% | 2.0% |
| Country detail | ||||||
| Germany | 6.3% | 3.0% | -4.7% | 18.0% | 56.5% | -2.1% |
| France | -3.9% | 3.2% | -1.4% | -8.8% | -1.3% | -1.8% |
| Italy | 10.5% | -10.5% | -5.2% | -22.9% | 4.7% | 7.3% |
| Spain | 5.3% | -2.4% | -6.2% | -13.6% | 10.5% | -2.8% |
| UK | -20.0% | 2.4% | 0.3% | -54.4% | -29.4% | 1.3% |
| All SA France also working day adjusted | ||||||
Robert Brusca
AuthorMore in Author Profile »Robert A. Brusca is Chief Economist of Fact and Opinion Economics, a consulting firm he founded in Manhattan. He has been an economist on Wall Street for over 25 years. He has visited central banking and large institutional clients in over 30 countries in his career as an economist. Mr. Brusca was a Divisional Research Chief at the Federal Reserve Bank of NY (Chief of the International Financial markets Division), a Fed Watcher at Irving Trust and Chief Economist at Nikko Securities International. He is widely quoted and appears in various media. Mr. Brusca holds an MA and Ph.D. in economics from Michigan State University and a BA in Economics from the University of Michigan. His research pursues his strong interests in non aligned policy economics as well as international economics. FAO Economics’ research targets investors to assist them in making better investment decisions in stocks, bonds and in a variety of international assets. The company does not manage money and has no conflicts in giving economic advice.
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