Slow recovery clouds the economy as stocks fall
Washington reports weak unemployment and manufacturing data fueling fears of a sluggish recovery from the recession. The Dow dropped 203 points to 9509 as jobless claims rose and ISM manufacturing index showed growth but remained below August. Consumer spending rose 1.3 percent in August, aided by cash for clunkers, while construction held uneven.
MENTIONED IN THIS ARTICLE
Washington
Mark Zandi
Moody's Economy.com
Labor Department
Econ
Omy
Institute For Supply Management
Wall Street
September auto sales slump ends clunkers era
Detroit automakers felt a clunker hangover in September with U S sales of cars and light trucks near 746000, a 41 percent drop from August. GM and Chrysler suffered the largest losses while Ford remained healthier. Hyundai rose 27 percent. Edmunds noted higher incentives but buyers stayed wary as the program ended. Ford’s Focus and Escape led clunker sales while Econoline van demand fell 11 percent year over year.
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Detroit
Hyundai
U.S
Chrysler
Ford
Edmunds Com
Edmunds
Jessica Caldwell
Ford Motor Co
Dearborn
Toyota recalls 3.8 million over accelerator risk
The recall covers 2007–10 Camry, 2005–10 Avalon, 2004–09 Prius, 2005–10 Tacoma, 2007–10 Tundra, 2007–10 Lexus ES 350 and 2006–10 Lexus IS models after floor mats could trap pedals. Toyota urges owners to remove driver-side mats until a fix is found, as government officials assist in identifying remedies. Four died in a San Diego area crash linked to the issue.
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Toyota Motor Corp
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America
National Highway Traffic Safety Administration
Irv Miller
Miller
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