At Econbrowser, James Hamilton lays out the case for the economy to stabilize somewhat in the second half of 2011. He can't quite bring himself to say that it will get better, instead saying that he doesn't "expect things to get a whole lot worse." A major culprit for the slowing recovery has been oil prices--and specifically the impact of oil prices on new car sales. But Hamilton expects car sales to pick up as retail gas prices come down. He shares this look at the trend in car sales:
Hamilton argues that the recent trouble for auto sales were very different from the back in 2008. Read his analysis here.
Posted
07-05-2011 7:37 AM
by
Graham Griffith