Percentage of those citing inflation has jumped 20 points since the beginning of 2021. The NFIB Small Business Optimism Index increased slightly in December to 98.9, up 0.5 points from November. Twenty-two percent of small business owners reported that inflation was their single most important problem encountered in operating their business. Price raising activities have […]
Interview: Susanna Gotsch, CCC Intelligent Solutions, Details Collision Repair Claims Trends
Gotsch discusses data on 2021 claims and the factors influencing collision repair and insurance claims markets into next year. Average cost per part running 8% higher in 2021. Labor rate growth hasn’t accelerated in 2021, but is expected higher in 2022 in wake of labor shortage. In our video interview, Susanna Gotsch, Senior Director, Industry […]
Small Business Optimism Up Slightly in November
A net 59% of small business owners increased prices, the highest level since 1979. The NFIB Small Business Optimism Index increased slightly in November by 0.2 points to 98.4. Four of the 10 Index components improved, four declined, and two were unchanged. The NFIB Uncertainty Index decreased four points to 63. “As the end of […]
U.S. Auto Body Repair Prices Up Over 8% in November Compared to 2020
The increase in auto body repair prices continues above the rate of inflation. Marks largest year-on-year increase since 1982. The most recent government figures on inflation through November 2021 show the rate of growth of auto body repair prices is above the rate of general inflation for the fifth month in a row. The result […]
Consumer Sentiment Down Sharply in Early November
Concerns arise that inflation is impacting living standards. Consumer sentiment fell in early November to its lowest level in a decade due to an escalating inflation rate and the growing belief among consumers that no effective policies have yet been developed to reduce the damage from surging inflation. As CollisionWeek reported November 12, the consumer […]
Consumer Sentiment Down Slightly in October
Inflation uncertainty highest in four decades. Consumer sentiment has remained virtually unchanged in the past three months, at levels comparable to the pandemic low point in April 2020, according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index posted a small decline in October, retreating to 71.7 from last month’s 72.8, and […]
Consumer Sentiment Up Slightly in September
University of Michigan survey shows consumer sentiment improved compared to August but down substantially compared to last year. The steep August falloff in consumer sentiment ended in early September, but the small gain still meant that consumers expected the least favorable economic prospects in more than a decade. The Index of Consumer Sentiment stood at […]
Consumer Sentiment Index Declines in May on Inflation Concerns
Record concerns about rising prices weigh on index. A falloff in consumer confidence in May is due to surging inflation that consumers anticipate will persist in the year ahead, according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index fell to 82.9 in the May 2021 survey from 88.3 in April, although […]
U.S. Auto Body Repair Prices Up Over 4.3% in December Compared to 2018
For the 17th straight month, the increase in body repair prices was above the rate of inflation. Auto insurance prices increased below inflation for the past ten months. The most recent government figures on inflation through December 2019 indicate the rate of growth of auto body repair prices continues above the rate of inflation, marking […]
U.S. Auto Body Repair Prices Up 4.5% in September Compared to Last Year
For the 15th straight month, the increase in body repair prices was above the rate of inflation. Auto insurance prices increased below inflation for past seven months. The most recent government figures on inflation through September 2019 indicate the rate of growth of auto body repair prices continues above the rate of inflation, marking more […]