Alan Diaz/AP

Even in the midst of the best American economy in a decade, there are warning signs that have some economists and investors worried, like data showing a huge decline in auto sales in March.

Expand chart
Data: Bureau of Economic Analysis; Chart: Andrew Witherspoon / Axios

According to Independent strategist Ed Yardeni, "The drop in March auto sales occurred even though the average sales incentive topped $3,750 in March, or 10.3% of the sticker price." He also pointed to a recent decline in used car prices and data showing that the average time a new car sits in dealer inventory recently reached its highest level since 2009 as evidence of trouble ahead for the sector.

Why it matters: Beyond these data not boding well for auto stocks, the trend could hurt the broader economy. Bank of America economists circulated a note to clients Thursday warning that if the declines continue, the trend could sap 0.4 percentage point from GDP growth this year.

Go deeper

Dave Lawler, author of World
46 mins ago - World

A hinge moment for America's role in the world

Photo illustration: Aïda Amer/Axios. Getty Images photo: Saul Loeb/AFP

The world may be living through the last gasps of America First — or just getting a taste of what's to come.

Why it matters: President Trump's message at this week's virtual UN General Assembly was short and relatively simple: global institutions like the World Health Organization are weak and beholden to China; international agreements like the Iran deal or Paris climate accord are "one-sided"; and the U.S. has accomplished more by going its own way.

New York daily coronavirus cases top 1,000 for first time since June

Photo: Chip Somodevilla/Getty Images

New York on Friday reported more than 1,000 new coronavirus cases for the first since June.

Why it matters: The New York City metropolitan area was seen as the epicenter of the COVID-19 pandemic throughout the spring. But strict social distancing and mask mandates helped quell the virus' spread, allowing the state to gradually reopen.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 32,647,382 — Total deaths: 990,473 — Total recoveries: 22,527,593Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 7,053,171 — Total deaths: 204,093 — Total recoveries: 2,727,335 — Total tests: 99,488,275Map.
  3. States: U.S. reports over 55,000 new coronavirus cases.
  4. Health: The long-term pain of the mental health pandemicFewer than 10% of Americans have coronavirus antibodies.
  5. Business: Millions start new businesses in time of coronavirus.
  6. Education: Summer college enrollment offers a glimpse of COVID-19's effect.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Subscription failed
Thank you for subscribing!