While auto sales make up a small share of GDP, they make up a big share of the change in GDP, ... As you see changes in the auto industry, it will contribute to headline economic growth numbers.
We've been able to achieve great things amid great challenges- including the stock market crash of 1987, the bursting of the stock bubble in 2000, two wars and the September 11, 2001, terror attacks. Alan Greenspan might be thought of as our most valuable economic player.
We seem to be continuing to defy these natural limits of the economic cycle and we should be able to push forward at a decent pace in the second half without risking inflation,
Households and corporations are still very active and are creating economic momentum, which is tremendously encouraging news for the economy. The only dark cloud comes from the news on prices, which are going up.
It's certainly surprising. I mean, all of the recent news suggested that we're going down a slippery slope toward a slower economic time.