ECONOMIC TIME MACHINE

Auto spending on a slow road to recovery

 

Despite a strong rebound, auto spending remains down almost 15 percent in Miami-Dade from the boom days of 2006.

dhanks@MiamiHerald.com

Auto sales may be bouncing back strongly, but they’re nothing compared to the boom days.

Taxable sales tied to the auto industry — which includes parts and repairs — remain far below their pre-recession peaks, according to the latest figures out Tallahassee. The slow recovery comes despite big sales spikes in recent years from dealers, including AutoNation.

In South Florida, auto spending is down 13 percent from the past peak in October 2006 . That’s the best of Florida’s largest economies, and better than the statewide average of a 20 percent decline and Broward’s ongoing 22 percent decline.

The Miami Herald’s Economic Time Machine blog seeks to put South Florida’s recovery into historical perspective. We try to take the long view on economic stats. For analysis of the latest economic news, visit miamiherald.com/economic-time-machine and look for our weekly chart on Page 3 of Business Monday.

Read more The Economic Time Machine stories from the Miami Herald

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