US real consumption growth likely to be 3.0% in Q4

US auto sector has continued to outperform expectations over the past few quarters as consumer spending on durable goods has grown at a robust pace. The auto sales edged up 1.4% m/m to 7.76mn (saar) and light truck sales ticked down 0.5% m/m to 10.36mn (saar).

According to data from WardsAuto and BEA seasonal adjustment factors, in US, the light weight vehicles sales were of 18.12mn annualized units in total in October. The sales results were solidly above expectations and represent a fresh decade high following the September print of 18.06mn. 

"Today's results are the earliest reliable indicator of October consumption and suggest that private spending remains healthy. The outlook for real consumption growth is likely 3.0% in Q4, which should drive overall GDP growth of about 2.5%", says Barclays.