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The U.S. manufacturing sector grew faster than expected in August, but private employers unexpectedly cut jobs, showing the economic recovery still faces headwinds.

The 13th straight month of manufacturing expansion calmed fears that the U.S. economy may fall back into recession, but the drop in employment and a slump in July construction spending to a 10-year low kept concerns about slow economic growth alive.

The U.S. government is expected to report on Friday that total payrolls dropped by 100,000 in August, the third straight month of job declines, while private sector employment increased only 41,000, according to a Reuters survey.

Last month, second quarter gross domestic product data showed the economic recovery slowing as the boost from an $814 billion government stimulus package and business inventories rebuilding faded.

Full report – Reuters

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A New York City man who plunged 39 stories from the rooftop of an apartment building has survived after crashing onto a parked car.

Witnesses and police said 22-year-old Thomas Magill jumped from the high-rise at West 63rd Street on Tuesday and landed in the backseat area of a Dodge Charger.

“He came down feet first at like 100 mph,” witness Andrew Petrocelli, 47, a maintenance worker, told the Daily News. “That’s a miracle if I’ve ever seen one. He should be a goner. It was like that movie ‘Unbreakable.’ That was this guy: unbreakable.”

“He had his hands up in the air, like flailing. Just when he’s about to land, there was a boom and glass flying all over,” he added. “The car saved his life. He landed in there like a stunt man. It was amazing.”

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At 500 PM EDT…the large eye of Hurricane Earl was located near latitude 26.3 north…longitude 73.3 West. Earl is moving toward the northwest near 17 mph…28 km/hr. This motion is expected to continue tonight with a gradual turn to the north on Thursday. On the forecast track…the core of the hurricane will approach the North Carolina coast by late Thursday.

Tropical storm force winds are expected to reach the North Carolina coast within the warning area by Thursday afternoon with hurricane force winds occurring by late Thursday. Tropical storm force winds will likely reach the coast from Virginia northward to New Jersey by early Friday.

Storm surge…a dangerous storm surge will raise water levels by as much as 3 to 5 feet above ground level within the Hurricane Warning area. Elsewhere…storm surge will raise water levels by as much as 1 to 3 feet above ground level within the Tropical Storm Warning area. Near the coast…the surge will be accompanied by large and destructive waves.

Rainfall…accumulations of 2 to 4 inches…with isolated maximum amounts of 6 inches…are expected over portions of eastern North Carolina including the Outer Banks.

Surf…large swells from Earl will continue to affect the Bahamas and the East Coast of the United States through Friday. These swells will likely cause dangerous surf conditions and rip currents.

Coastal Watches/Warnings and 5-Day Forecast Cone for Storm Center

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The nation’s top automakers reported disappointing sales Wednesday, resulting in the worst August for industrywide auto sales in 27 years.

According to sales tracker Autodata, U.S. new vehicle sales fell just short of 1 million vehicles, a drop of 21% from a year ago, which included Cash for Clunkers. That federal program created a sugar rush of sales by dangling an incentive of up to $4,500 in cash for buyers who traded in older gas guzzlers for more efficient models.

Industry sales also fell 5% from July levels. August sales typically outpace July, as deals become available on older models ahead of the fall introduction of new model year cars. August sales would equate to an annual sales pace of about 11.5 million vehicles.
Full report

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Image by dmdonahoo via Flickr

The country’s recession continues, as a result consumers continued to shop frugally, driving coupon use to record-setting highs.

According to Inmar, Winston-Salem, N.C., which tracks promotional transactions, coupon use in 2009 reached its highest levels since the company began tracking the numbers in 1988.

In addition, for the first time in 17 years, customers used more coupons than in the previous year, redeeming 3.3 billion packaged-goods coupons, a 27 percent increase from 2008.

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