Monday, Dec 9, 2013
Local Economy Sees Strong Gains in Auto Sales
WILLIAMSON COUNTY -- According to data from the Commerce Department, more Americans are buying cars, furniture and electronics nationwide. Still, experts say growth is slowing and consumer confidence is down.
Automobile sales jumped in August to their highest levels in five years. Economists are cautious about saying the recession is over, but local car dealers say things are looking pretty good.
"It's nice to see people out spending money, buying cars," Brian Motsinger enthused. "Think consumers are optimistic. They speak with their wallets."
Last month, that optimism equated to a 30 percent increase from August 2012, meaning 200 used and new cars sold.
Still, the numbers can fluctuate day to day, week by week.
"The business we're in changes overnight. We're consistently trying to stay on top of the game," added Motsinger.
Data from the Commerce Department suggests the economic landscape is still changing, as consumers appear to be more cautious about their overall spending.
Economist Kevin Sylwester says it's too soon to tell how healthy the economy is at this point.
"We'll see. Month to month blips are very hard to read a lot into. (You) need several months of data," Sylwester explained.
He says there's really no way to know how long it will take for the country to completely recover from the recession.
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