December 30, 2009 2:29 PM

printer

Three indicators give encouraging signs for U.S. economy

The United States has received a triple-dose of encouraging news on consumer confidence, business hiring, and home prices that suggests a fledgling economic recovery is gaining traction. Emerging from the deepest and longest recession since World War II, Americans' confidence in their nation's economy continues to rebound.<br/><br/>The New York-based Conference Board's Consumer Confidence Index stands at 52.9, up from 50.6 a month ago, and a marked improvement from a 25.3 reading in February.<br/><br/>Fueling that optimism are signs that double-digit unemployment in the United States will recede in coming months. A survey of U.S. employers shows that 20 percent expect to hire full-time workers next year, up from 14 percent in 2009. Unemployment reached a high of 10.2 percent in October and currently stands at an even 10 percent. Although month-to-month fluctuations are possible, most economists expect the jobless rate to gradually decline in the coming year. Another welcome sign is a stabilization of U.S. home prices. A private reading of home prices edged up .4 percent in October for the fifth month in a row. Eleven of 20 U.S. metro areas showed gains, although housing prices remain significantly depressed from all-time highs recorded in 2006.<br/>

Most Read
View All arrow-right

No posts found.