1 percent in July, the third straight monthly decline, the Commerce Department said. Government revisions showed much weaker activity than previously reported for May and June. - AP
Auto sales lower in August
Auto sales took a dive in August compared with a year ago, primarily because the "cash for clunkers" program was in full swing in 2009. Still,
General Motors Co. said its sales fell 10.6 percent in August compared with the same month a year ago, after factoring out the Pontiac, Hummer, Saturn, and Saab brands it closed or sold.
Ford Motor Co. said its sales fell 10.7 percent to 144,035, after factoring out Volvo, which it recently sold to
Geely Automobile Holdings Ltd. of China.
Toyota Motor Corp. said its sales fell 34 percent to 148,388 vehicles.
Chrysler Group L.L.C. was one of the few automakers to post a gain for the month - up 7 percent.
- Los Angeles Times
Money fund yields are unchanged
The average seven-day yield on taxable money market funds was 0.04 percent this week, unchanged from last week, according to
iMoneyNet Inc. A seven-day yield is an annual yield that is based on the preceding seven days' level of income by the fund. The average yield on tax-free funds also was 0.04 percent this week, unchanged from last week.
- Rhonda Dickey
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