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Mary T. Barra, the chief executive of Common Motors, with President Trump at a Michigan event last month to discuss automaking and job creation.

The odd-looking line in this graph is the one for home consumption of autos and elements as a fraction of GDP; the road starts to drop after 2002, only reversing in 2010. It’s odd to me because a graph of US vehicle sales is actually flat from 2001 to 2007 at between sixteen and 17 million vehicles per 12 months. Reading off Stuart’s graph above, the gross consumption line begins at about three.7% of GDP in 2001 and drops to round 2.eight% in 2007, so roughly a 25% drop. Taking a look at BEA Table 1.1.5. US GDP rose 36% during that interval.

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