From Bloomberg: “An unexpected increase in auto production last quarter was a statistical fluke that will be reversed, making current U.S. economic growth even weaker, according to a former Commerce Department economist.Last quarter’s annualized 26 percent increase in auto production shocked Joe Carson, now director of economic research at AllianceBernstein LP in New York. Without the gain, the economy would have grown at an annual rate of 0.9 percent, not the 1.6 percent the Commerce Department reported today….. A 5.5 percent drop in price of SUVs and other light trucks last quarter made output look stronger when adjusted for inflation.”

Oh and by the way - CHICAGO (Reuters) - “Wal-Mart Stores Inc. on Saturday estimated that October sales rose just 0.5 percent at its U.S. stores open at least a year, hurt by disappointing apparel demand and disruption from store remodeling efforts.”

SignOnSanDiego: “MIAMI – AutoNation Inc., the nation’s biggest car retailer, said Thursday that third-quarter profit fell 37 percent, weighed down by a drop in new car sales in California, its biggest market…. For the quarter, new car sales fell 8 percent in total and 12 percent in California, a state that accounts for one-fifth of AutoNation’s new vehicle business. “