Economy, Auto Industry | featured news

U.S. retail sales rose less than expected in January as consumers cut back on car purchases and did less online shopping.

U.S. auto sales rose sharply in November as more confident American consumers spent more on the average showroom purchase, extending a recovery trend for the industry to a sixth month.

Strong auto production drove factory output higher for a second straight month in August. But manufacturing was otherwise weak last month, a troubling sign for the economy.

American companies sold more computers, heavy machinery and telecommunications equipment in foreign markets in April, pushing exports to a record high. Imports declined, reflecting a big drop in auto imports from Japan caused by supply disruptions from the March earthquake and tsunami.

The U.S. economy is on increasingly unsteady footing, hurt by stubbornly high unemployment and volatile oil prices, the head of General Motors Co told reporters on Tuesday.

The month of October is just about a wrap, and it’s shaping up to be a good one for the auto industry.

Retail sales are expected to show an increase in August despite weakness in auto sales. Economists surveyed by Thomson Reuters expect retail sales will increase 0.3 percent in August following a 0.4 percent rise in July.

Spending fell 1.2%, the biggest dip in eight months. Auto sales were down 1.7%. Retail sales plunged in May by the largest amount in eight months as consumers slashed spending on everything from cars to clothing.

U.S. auto sales continued to rise in April as the stabilizing economy and attractive discounts brought more consumers into showrooms.

Sales fall after a surge in the previous month, but the drop is smaller than forecast. Retail sales fell in September after a popular program aimed at boosting auto sales ended ...