►Economy brightens as consumers spend and layoffs slow
Christopher S. Rugaber/Associated Press/Dec 24
Economic reports Thursday suggested that employers are laying off fewer workers, businesses are ordering more computers and appliances, more people are buying new homes, and consumers are spending more confidently. Combined, the latest data confirm that the economy is improving, though the job market remains a problem with unemployment at a stubbornly high 9.8 percent. “The recovery is moving into higher gear,” said Jim O’Sullivan, global chief economist at MF Global Ltd., of New York.
►Consumers Lift Economy
Justin Lahart/Wall Street Journal/Dec 24
“It looks like we’ve transitioned into a period of solid consumer spending,” said Barclays Capital economist Dean Maki. “That makes it hard not to be optimistic about economic growth.”