Friday, March 1, 2013

Confidence Jump with Housing Points to U.S. Growth: Economy

Purchases of new homes surged in January by the most in two decades and consumer confidence jumped this month, signs of a rebound in U.S. economic growth at the start of 2013.

Home sales surged 15.6 percent to a 437,000 annual pace, exceeding the highest forecast in a Bloomberg survey and following a 378,000 rate in the prior month, figures from the Commerce Department showed today in Washington. The Conference Board’s consumer sentiment index climbed to 69.6, also beating all estimates in a Bloomberg survey.

The Conference Board’s sentiment index jumped in February from a revised 58.4 in January, data from the New York-based private research group showed. The measure’s 11.2-point jump was the biggest since November 2011, offsetting much of the almost 15-point slide over the previous three months. Bloomberg

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