GM, Ford see demand up, job growth

Dec 02, 2010 | 12:44 PM |

Bullish economists at General Motors Co. and Ford Motor Co. said the U.S. economy has turned a corner and is poised to shake off the "jobless" part of the jobless recovery.

Sales of cars and light trucks for the top seven U.S. automotive brands jumped 15 percent in November from the year-ago period. New vehicle sales in the United States rose nearly 17 percent, as the automotive industry's recovery continued to gain traction.

"Despite continued high unemployment and the housing market, consumer spending grew 2.8 percent in the third quarter, and consumers spent 6.4 percent more during Thanksgiving weekend than last year," said GM general manager Jim Bunnell, a pace that reflects the sentiment expressed in the Reuters/University of Michigan November consumer survey.....

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