U.S. May auto sales race to strongest pace in nearly a decade

Consumers emboldened by easy-to-get loans and cheap gas pushed U.S. auto sales in May to their strongest pace in a decade, countering weakness in other economic indicators. U.S. May auto sales hit 17.79 million last month on a seasonally adjusted annualized basis, according to Autodata Corp, the highest since summer 2005. On Tuesday as automakers reported robust sales, data showed new orders for U.S. factory goods in April fell 0.4 percent, a day after a Federal Reserve official said second-quar