Auto Care Insider Volume 102 - 26
MARKET
INTELLIGENCE
INTELLIGENCE INDICES
AND INDICATORS
OVERVIEW OF AUGUST 2016 INDUSTRY INDICATORS REPORT
By Dr. Timothy G. Nash
THE U.S. economy continued to show
mixed results in August with a less than
impressive 151,000 new jobs created
for the month. The August figures
were disappointing considering the
economy created more than 250,000
jobs in both June and July, according
to the Bureau of Labor Statistics.
The unemployment rate remained
constant at 4.9 percent, but it was
accompanied by a disappointing labor
force participation rate of 62.8 percent,
the lowest number since the late 1970s.
Average hourly earnings increased
slightly in August by 3 cents to $25.03
which is up roughly 1.4 percent over the
last 12 months. The U.S. national debt
is approaching 20 trillion dollars or 105
percent of U.S. GDP, with the specter
of higher interest rates posing an
additional drag on the U.S. economy in
the future. Real wages remain sluggish,
with consumer spending making up
70 percent of U.S. GDP. Real average
hourly earnings growth of 3 percent
or greater is imperative if average U.S.
GDP growth is to return to 3.5 percent
AUGUST 2016 | Industry Indicators Assessment Summaries
April
May
June
July
Favorable condition for auto care industry =
8
8
9
6
AUTO RETAIL REPORT
Indeterminate trend - should monitor =
9
8
5
4
Unfavorable condition for auto care industry =
6
7
9
6
Data not available =
na
0
0
0
7
Favorable condition for auto care industry =
12
9
12
10
AUTO PARTS MANUFACTURING REPORT
Indeterminate trend - should monitor =
7
7
4
3
Unfavorable condition for auto care industry =
4
7
7
4
Data not available =
na
0
0
0
6
HEAVY DUTY AFTERMARKET REPORT
26
Favorable condition for auto care industry =
14
14
14
12
Indeterminate trend - should monitor =
4
3
2
4
Unfavorable condition for auto care industry =
4
5
6
5
Data not available =
na
0
0
0
1
AUTO CARE INSIDER | VOL. 102
or higher. Over the last 12 months, U.S.
real wages have increased less than 1.5
percent resulting in U.S. GDP growing
at only 2 percent on an annualized
basis. The U.S. continues to receive little
help from the global economy as China
and much of the global economy are
growing at a slower pace in 2016 and
are providing little catalyst for additional
GDP growth in the U.S. Through eight
months, consumer spending continues
to be the brightest spot of the U.S.
economy, but will not pick up steam
in the future given the state of U.S.
wage growth. Finally, investment in
business infrastructure, equipment and
intellectual property has been declining
in 2016, especially given the state of
current oil prices.
Dr. Nash is senior vice president and director of
the McNair Center for the Advancement of Free
Enterprise and Entrepreneurship at Northwood
University. This report was prepared with the
assistance of Northwood University Aftermarket
senior, Matt Fusco. For more information about
Northwood University and their Aftermarket Program
or Automotive MBA program, visit www.northwood.
edu or email Tim Nash at tgnash@northwood.edu.
The Industry Indicators Report is an Auto Care
Association member-only benefit. Research is posted
in the Knowledge Center on the Auto Care Association
website at www.autocare.org and is accessible through
Auto Care Association username and password.
For assistance, contact the Auto Care Association
membership department at 301-654-6664.
http://www.northwood.edu
http://www.northwood.edu
http://www.autocare.org
Table of Contents for the Digital Edition of Auto Care Insider Volume 102
Auto Care Insider Volume 102 - Intro
Auto Care Insider Volume 102 - Cover1
Auto Care Insider Volume 102 - Cover2
Auto Care Insider Volume 102 - 1
Auto Care Insider Volume 102 - 2
Auto Care Insider Volume 102 - 3
Auto Care Insider Volume 102 - 4
Auto Care Insider Volume 102 - 5
Auto Care Insider Volume 102 - 6
Auto Care Insider Volume 102 - 7
Auto Care Insider Volume 102 - 8
Auto Care Insider Volume 102 - 9
Auto Care Insider Volume 102 - 10
Auto Care Insider Volume 102 - 11
Auto Care Insider Volume 102 - 12
Auto Care Insider Volume 102 - 13
Auto Care Insider Volume 102 - 14
Auto Care Insider Volume 102 - 15
Auto Care Insider Volume 102 - 16
Auto Care Insider Volume 102 - 17
Auto Care Insider Volume 102 - 18
Auto Care Insider Volume 102 - 19
Auto Care Insider Volume 102 - 20
Auto Care Insider Volume 102 - 21
Auto Care Insider Volume 102 - 22
Auto Care Insider Volume 102 - 23
Auto Care Insider Volume 102 - 24
Auto Care Insider Volume 102 - 25
Auto Care Insider Volume 102 - 26
Auto Care Insider Volume 102 - 27
Auto Care Insider Volume 102 - 28
Auto Care Insider Volume 102 - Cover3
Auto Care Insider Volume 102 - Cover4
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