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The odd-looking line on this graph is the one for home consumption of autos and parts as a fraction of GDP; the road starts to drop after 2002, only reversing in 2010. It is odd to me because a graph of US car sales is essentially flat from 2001 to 2007 at between sixteen and 17 million vehicles per yr. Reading off Stuart’s graph above, the gross consumption line begins at about three.7% of GDP in 2001 and drops to round 2.eight% in 2007, so roughly a 25% drop. Looking at BEA Table 1.1.5. US GDP rose 36% during that period.
You’ll be able to see the rise in imports from a lot less than 1% within the Nineteen Sixties to about 2% of US GDP within the mid 2000s (until the great recession hit). The opposite attention-grabbing issue is that consumption of autos (as a fraction of the financial system) started a critical decline in the early 2000s. That is going to complicate the analysis which I’ll take up again in the next submit.
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Sam Romans was very personable and an incredible salesman! We are going to definately recommend Neighborhood Autos and likewise Sam!! Keep up the good work! But it appears an fascinating remark in its personal right – the triple mixture of the early 2000s recession, the oil shock of the mid 2000s, after which the good recession, have combined to lower the share of auto consumption in the US economic system by about a third during the last decade.