IN BRIEF

LOS ANGELES

Nevada among states with most foreclosures

Nevada joined California and Florida in leading the nation with the highest foreclosure rates during the third quarter, RealtyTrac officials said Thursday

Nevada reported one foreclosure filing for every 61 households, with 16,817 filings on 12,982 properties.

That marked a 22.8 percent increase in filings from the previous quarter and a tripling from the year-ago quarter.

Nationwide, a total of 446,726 homes were targeted by some sort of foreclosure activity from July to September, up 100.1 percent from 223,233 properties in the year-ago period, according to Irvine-based RealtyTrac.

SAN FRANCISCO

GM posts higher sales; Ford, Chrysler slide

Ford Motor Co. on Thursday handed in an October U.S. sales decline that wasn't quite as bad as Wall Street had expected and also raised its production plans for the fourth quarter amid strong demand for its crossover lineup.

General Motors Corp. reported its third consecutive month of sales gains, while Chrysler LLC's numbers slumped, falling short analyst targets.

The industry overall reported a slight decline from last month's 16.2 million to a seasonally adjusted annual sales rate of 16.1 million cars and trucks, according to Autodata.

First to report, Ford came in with a 9.5 percent drop from a year ago, when there was one less selling day, to 195,462 cars and trucks. The decline, Ford's 12th consecutive monthly drop, kept the Dearborn, Mich.-based automaker just barely behind rival Toyota Motor Corp. for second place in terms of U.S. sales.

WASHINGTON

Consumer spending slows in September

The growth in consumer spending slowed to a crawl in September as shoppers, worried about a deepening housing downturn, stayed away from the malls.

A different gauge of manufacturing activity slipped close to recession levels last month.

The Commerce Department reported Thursday that consumer spending rose by 0.3 percent in September, the smallest rise in three months and lower than the 0.4 percent increase analysts expected. The 0.4 percent gain in incomes was in line with expectations.

In another report, the Institute for Supply Management, an Arizona-based trade group, said its manufacturing index dipped to 50.9 in October. That was the weakest level since March and the fourth consecutive month that manufacturing has slowed.

The September reading had been 52 and analysts had expected a slightly stronger 51.8 for October. Any reading lower than 50 signals that the manufacturing portion of the economy is in recession.

WASHINGTON

Mortgage rates drop to five-month low

Rates on 30-year mortgages fell to the lowest level in five months as evidence mounted that the economy is slowing down.

Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages dipped to 6.26 percent this week, down from 6.33 percent last week. It was the lowest level since 30-year mortgages were at 6.21 percent the week of May 17.

Rates on 15-year fixed-rate mortgages, a popular choice for refinancing, averaged 5.91 percent, down from 5.99 percent last week.

Rates on five-year adjustable-rate mortgages averaged 5.98 percent, down from 6.03 percent last week.

ATLANTIC CITY

Smoke-free casinos a better draw, poll hints

More New Jersey residents would go to Atlantic City casinos if the gambling halls were made totally smoke-free, according to a new poll.

The poll, done by the Monmouth University Polling Institute for a coalition of anti-smoking groups, found that nearly 70 percent of respondents want Atlantic City's 11 casinos to go totally smoke-free.

A partial ban was enacted in April that bans smoking from at least 75 percent of the casino floor of each gambling house. Casinos are the one major exception to a tough new law New Jersey enacted last year that bans smoking in most public places.

NEW YORK

Treasury prices rally after economic reports

Treasury prices staged an unusually vigorous rally Thursday as consumer spending and manufacturing data left investors expecting a period of economic shakiness and seeking the safety of the government bond market.

The benchmark 10-year Treasury note rose 1.03 points to 103.13 with a yield of 4.35 percent, down from 4.48 percent late Wednesday.

The 30-year long bond rallied 1.93 to 105.78 with a 4.64 percent yield, down from 4.75 percent late Wednesday.