A recession in the auto industry

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Here’s a quickie.

Those of you keeping track of the big economic picture, and what it means for housing, should take note of this: The auto industry, a pretty big part of American manufacturing, is in a recession right now. From LATimes.com tonight: Automakers reported today that ‘vehicle sales in 2007 totaled 16.1 million, off 2.5% from 2006 and the smallest annual count since 1998 .... ‘

More: ‘Their forecasts for this year were downbeat, with the head of the country’s No. 1 car company, General Motors Corp., saying he thought the economy would push GM sales lower in the next six months.’

Your thoughts? Comments? Insights? E-mail story tips to peter.viles@latimes.com.