Dana Johnson Higher Quotations

I expected our index to tick lower in March, as the effects from the Super Bowl and mild winter weather faded. Looking ahead, our index probably will settle into a lower range, as the local economy struggles to overcome restructuring in the auto sector, higher interest rates, and elevated gasoline prices.

I don't think one 50 basis point move (by the Fed) is likely to be enough. It's going to be very hard for the stock market to move ahead. Profit margins are not going to be expanding. There's going to be nothing to offset the higher interest rates.

The affordability of light vehicles has been quite stable over the past ten quarters. Family incomes have been rising faster than vehicle prices, but higher interest rates have increased the cost of financing a new car.

Affordability has deteriorated over the past year because consumers are buying more expensive cars, financing a larger portion of those purchases and paying higher interest rates on car loans.

It's a little more evidence that growth in the economy has downshifted a bit, but that's what happens when higher energy costs take money from people's pockets.

It's certainly a concerning reading. Most of what we are seeing there is the impact of higher natural gas and other energy prices.