US New Vehicle Sales Rose To The Highest Level Since February 2020

According to Wards data, US new vehicle sales rose for the second straight month in January, reaching 16.63 million SAAR (highest since February 2020), up from 16.27 million in November.

In this context, the auto sector will probably contribute positively to January retail sales that will be released on February 17th. In addition, other proxies, such as credit cards spending also pointed to a rebound in Janaury (which would be the first increase since September).

It seems that the recent improvement of the health situation coupled with the $900 billion fiscal stimulus that passed in December will support activity as soon as January. It reinforced my view that the US growth should exceed expectations in 2021.

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