Byline: Combined wire services
The beleaguered economy in March finally showed some encouraging signs as sales of new single-family homes increased 1 percent to a seasonally adjusted annual rate of 490,000 and consumers increased their spending by 0.6 percent, the government said Monday.
"I think the numbers are consistent with the view that the economy is bottoming out and that a recovery is coming," said Richard Peach, deputy chief economist for the Mortgage Bankers Association in Washington.
The improvement appeared to stem, however, from strapped consumers dipping into their savings to maintain lifestyles that have been squeezed by sluggish …
No comments:
Post a Comment