Here's a glance at some of the items making news this afternoon.
Good news for automakers
Business Insider reports that sales are hitting their highest levels since the Cash for Clunkers program expired in 2009.
Manufacturing activity, construction spending dip
The Institute for Supply Management reported a decrease in manufacturing activity in August. The national PMI of 49.6% was down 0.2 percentage points from July's reading, marking the third consecutive month of contraction in the manufacturing sector. This is also the lowest PMI reading since July 2009. Check out this Reuters report for insight into the numbers.
Meanwhile, construction spending dropped 0.9% from June to July, according to a Commerce Department report, to a seasonally adjusted $834.4 billion. However, year-over-year construction spending was up 9.3% in July, Fox Business reported. Check out the full story here.
Read this Associated Press writeup for more information.