Good News, U.s. Economy | featured news

... the auto industry is weighing in with what appears to have been a solid February – buoyed by a recovery in another key sector of the economy. “The housing sector has now joined auto sales in propelling the U.S. economy forward,” said Kurt McNeil, vice president of U.S. sales operations for General Motors, which reported a 7% increase, year-over-year.

The number of Americans filing new claims for unemployment benefits fell more than expected last week, suggesting some traction in the labor market recovery.

The US economy registers surprisingly strong consumer confidence and new home sales data, suggesting the recovery is gathering steam.

U.S. home prices closed out 2012 with the biggest annual gain in more than six years while sales of new homes spiked in January, the latest sign that the long-suffering housing market was on the mend, data showed on Tuesday.

U.S. home resales edged higher in January and left the supply of homes at its lowest level in 13 years, a sign that steam is gathering in the U.S. housing market.

U.S. consumer prices were flat last month, the latest sign inflation is in check. That could give the Federal Reserve leeway to continue its efforts to stimulate growth. The Labor Department says the consumer price index has risen 1.6 percent in the 12 months ending in January. That's down from a 2.9 percent pace a year ago.

Talk of more merger and acquisitions is sending stock prices slightly higher in early trading, setting the market up to continue a seven-week rally.

Consumer sentiment improved in February, buoyed by signs of increased hiring, though worries heightened about a decline in future income, a survey released on Friday showed.

Many top retailers reported strong January sales on Thursday after offering merchandise and deals that drew in shoppers in spite of higher payroll taxes.

U.S. home prices jumped by the most in 6 1/2 years in December, spurred by a low supply of available homes and rising demand.