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9/28/09

Charts of the day are.......

..Peru's new vehicle sales, 2008 and 2009.

Here's the 2009 to date numbers compared to the same period of last year...


...and this one shows the August 2008 vs August 2009 single month numbers.

When publishing this, the Peru car people, ADEPA, said that things are getting better. I reckon it must be that "getting better" phrase that the US homebuilders used back in early 2008. According to El Comercio,
"Despite the figures, ADEPA considers that sales continue to show a moderate recovery in relation to the first few months of this year."
I ABSOLUTELY ADORE that phrase "despite the figures". You could re-write that as "despite the truth" or perhaps "despite the plain facts staring at them in the face" because when I went to numbers skool a January-August drop of 20.96% and an August drop of 28.6% would mean that the slowdown in sales is getting worse, not better.

Peru's economic miracle: The miracle is that people believe their bullshit.