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General Motors posts 11th consecutive quarterly profit

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DETROIT (WKZO) -- General Motors announced a third quarter profit of nearly one-point five billion dollars this morning.  The earnings beat what Wall Street analysts had expected, but they were down compared to the third quarter of 2011.

Hampering the automaker's efforts is the continuing economic downturn in Europe where GM lost 500-million dollars in the third quarter.  However, this is the eleventh consecutive quarter GM has posted a profit and officials are optimistic about an improving economic climate in Europe for 2013.

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