Strong June job growth lifted U.S. consumer confidence

WASHINGTON – Strong job growth lifted U.S. consumer confidence this month, as Americans looked past the economy’s dismal first quarter performance.

The University of Michigan said Friday that its index of consumer sentiment rose slightly to 82.5 in June from 81.9 in May. That is still below April’s reading of 84.1, which had been the highest in almost a year.

Confidence “has remained largely unchanged for the past six months,” said Richard Curtin, an economist at the University of Michigan and director of the survey. “This was remarkable” given that the economy shrank in the first quarter.

So far, steady confidence hasn’t yet translated into more spending. Consumer spending rose just 0.2 percent in May after a flat reading in April.

GM recalling GMC Sierra, Chevrolet Silverado pickups

DETROIT — General Motors extended its record-breaking string of safety problems, announcing Friday three more recalls, including a large one involving its top-selling vehicle.

The recalls, part of a top-to-bottom safety review, bring the company’s total for the year to 48, covering more than 20 million cars and trucks. That beats GM’s old full-year record of 10.75 million in 2004.

Friday’s recalls cover 474,000 vehicles worldwide for a variety of problems.

The largest affects almost 467,000 four-wheel-drive Chevrolet Silverado and GMC Sierra pickups, as well as GMC Yukon and Chevrolet Tahoe and Suburban SUVs. The Sierra is GM’s top-selling vehicle.

The company said a software glitch can cause the transmission transfer cases to shift into neutral on their own on 2014 and 2015 models. That can cause loss of power, or it can let the trucks roll away if parked. GM says it knows of no related crashes or injuries. Most were sold in the U.S. and Canada, with a small number of exports. Dealers will recalibrate the software.

The other recalls are much smaller and also had no reported injuries. One affects nearly 4,800 Chevrolet SS and Caprice police cars with faulty windshield wiper modules. Gear teeth can become stripped, causing the wipers to fail. Dealers will replace modules if needed.

In the other case, dealers will replace the two rear shock absorbers in about 2,000 2014 model year Chevrolet Corvettes with the FE1 or FE3 suspensions. An insufficient weld could lead to a fracture.

Daimler and Renault-Nissan to build $1.36 billion plant

MEXICO CITY – Automakers Daimler and Renault-Nissan say they will build a $1.36 billion plant in northern Mexico to manufacture Infiniti and Mercedes-Benz brand compact vehicles.

The companies announced Friday that construction on the plant would begin in 2015 in the state of Aguascalientes.

They called it the most ambitious project to date for the joint venture the firms launched in 2010. They said it would produce as many as 300,000 cars a year, with Infiniti production beginning in 2017 and Mercedes in 2018.

The plant is expected to employ 5,700 people.

Automakers are increasingly moving car manufacturing to Mexico because of its access to the U.S., low labor costs and free-trade deals with more than 30 countries.