U S auto sales rise as pickups drive growth in August
Strong demand for pickups propelled an outsize jump in U S auto sales last month with GM up 10 percent Ford 13 percent and Chrysler 14 percent. Analysts forecast roughly 20 percent overall gains as buyers chased model year closeouts low rates and new models while housing improves supports pickup sales.
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Global Markets Fall as Policy Ahead Matches Crisis Fear
World markets slumped amid doubt over U S China and Europe policy. Draghi heads ECB with expected bond buys to ease Spain and Italy borrowing costs while Moody s warns of EU downgrade. US Dow Jones and S P 500 fell on cautious post Labor Day trading.
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US factory activity shrinks for third straight month
ISM says August manufacturing index falls to 49.6 from 49.8 in July signaling contraction. Weak consumer spending and lower orders for machinery depress output while abroad China and Europe also show slowed or stagnant activity amid crises and policy tightening.
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