Cyclical Sectors Light Vehicle Sales
Change in Private Inventories
Millions, seasonally adjusted annual rate
Billions of 2005 dollars, seasonally adjusted annual rate
24
$150
22
$100
20
$50
May 2013: 15.2
18 16
Econom my
1Q13: 36.7
$-50
Average: 15.2
14
$0
Average: 28.7
$ 100 $-100
12
$-150
10
$-200
8 '94
'96
'98
'00
'02
'04
'06
'08
'10
'94
'12
'96
'98
'00
'02
'04
'06
'08
'10
'12
Real Capital Goods Orders
Housing Starts
Th Thousands, d seasonally ll adjusted dj t d annuall rate t
Non defense capital goods orders ex. Non-defense ex aircraft, aircraft $ bn bn, seasonally adjusted
2,400
$75 $70
2,000
May 2013: 59.6
$65
1,600 $60
Average: 1,377 1 377
1 200 1,200
May 2013: 914
800
$55
Average: 55.8
$50
400
$45 $40
0 '94 94
'96 96
'98 98
'00 00
'02 02
'04 04
'06 06
'08 08
'10 10
'12 12
'94
'96
'98
'00
'02
'04
'06
'08
'10
Source: (Top left) BEA, FactSet, J.P. Morgan Asset Management. (Top right) Census Bureau, FactSet, J.P. Morgan Asset Management. (Bottom left) Census Bureau, FactSet, J.P. Morgan Asset Management. (Bottom right) Census Bureau, FactSet, J.P. Morgan Asset Management. Capital goods orders deflated using the producer price index for capital goods with a base year of 1982. Data are as of 6/30/13.
18
'12