Econ 101: December 4, 2012

Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.

  • November was the best month for auto sales in four years, in part due to purchases replacing vehicles damaged by Hurricane Sandy. [New York Times]
  • The manufacturing sector shrank in November, dropping to the lowest level in three years. [Wall Street Journal]
  • California’s budget office predicts that the Golden State will have a budget surplus of $1 billion by 2014. [Financial Times]
  • The Securities and Exchange Commission has charged the Chinese affiliates of five major accounting firms with committing securities violations. [Reuters]
  • A European student group plans to sue Facebook for privacy violations. [BBC]
  • The American Federation of Teachers has proposed a “bar exam” for new teachers. [Education Week]
  • Portugal’s Prime Minister denied that his country will need an international rescue package. [Reuters]