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Data: The Conference Board; h/t Deutsche Bank’s Torsten Slok; Chart: Axios Visuals

Consumers scaled back plans to buy a new car last month.

Why it matters: It may signal consumers' lack of confidence in the staying power of the U.S. economy.

  • What they’re saying: “If we find that consumers are concerned about the broader economy and they think that a recession may be coming next year or they’re worried about their own economic stability, they’re going to pull back from ... big-ticket purchases like vehicles,” Charlie Chesbrough, senior economist at Cox Automotive, tells Axios. 

But, but, but: “We are at the late stage of this business cycle. Pretty much everyone who’s wanted a new vehicle has bought one. It’s almost vehicle saturation at this point,” which might also explain the drop-off in purchase plans, Chesbrough says.

Go deeper: Fully electric vehicles could account for 7.6% of U.S. car sales

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18 mins ago - World

Jeremy Corbyn suspended by U.K. Labour Party over anti-Semitism report

Photo: Christopher Furlong/Getty Images

The U.K. Labour Party has suspended its former leader, Jeremy Corbyn, after a watchdog report found that the party failed to properly take action against allegations of anti-Semitism during his time in charge.

Why it matters: It represents a strong break by Keir Starmer, Labour's current leader, from the Corbyn era and one of the party's most persistent scandals.

U.S. economy sees record growth in third quarter

The U.S. economy grew at a 33.1% annualized pace in the third quarter, the Commerce Department said on Thursday.

The state of play: The record growth follows easing of the coronavirus-driven lockdowns that pushed the economy to the worst-ever contraction — but GDP still remains well below its pre-pandemic level.

Updated 56 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases
  4. Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.