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U.S. NEWS A7
Wednesday 27 January 2016

US Financial Front:

American consumers showing more confidence in economy

of economic weakness from financial markets.” remained at a seven-year
overseas. The stock market has low 5 percent in Decem-
“The increase is rather sur- been rattled by the im- ber. The average price of
prising given the volatility pact of China’s persistent a gallon of gasoline has
in equities in the month,” economic slowdown and reached $1.83 from $2 a
Derek Lindsey, economist a plunge in the prices of month ago, according to
at BNP Paribas, wrote in a commodities, including oil. AAA.
research note. “A resilient From October through De- The Conference Board
labor market and low gaso- cember, U.S. employers said 6.6 percent of survey
line and utilities prices seem added a robust average respondents planned to
to have offset any nega- of 284,000 jobs a month. buy a house in the next six
tive sentiment stemming The unemployment rate months.q

Alana Fusco, left, an employee at Gerald Peters, at the Staten
Island Mall in New York, helps a customer choose a bracelet
for her niece. On Tuesday, Jan. 26, 2016, the Conference Board
released the Consumer Confidence Index for January.

(AP Photo/Kathy Willens)

PAUL WISEMAN ber, the second straight
AP Economics Writer monthly gain. The business
WASHINGTON (AP) — A research group said Ameri-
strong job market and low cans were more confident
gasoline prices helped about the future, though
boost U.S. consumer confi- their assessment of current
dence again this month. economic conditions was
The Conference Board unchanged from Decem-
on Tuesday said that its ber.
consumer confidence in- Consumers shrugged off
dex rose to 98.1 in Janu- the recent sharp decline in
ary from 96.3 in Decem- the stock market and signs

US home prices rise in November

JOSH BOAK But several metro areas
AP Economics Writer have fully rebounded from
WASHINGTON (AP) — U.S. the downturn. Four metro
home prices increased at areas — Dallas, Denver,
a faster clip in November, San Francisco and Port-
the gains fueled by solid land Oregon — have either
hiring growth, historically matched or eclipsed their
low mortgage rates and a all-time highs. And Char-
shortage of houses on the lotte, North Carolina is less
market. than 1 percent below its
The Standard & Poor’s/ previous high.
Case-Shiller 20-city home Buyers crowded back
price index rose 5.8 per- into the housing market
cent from a year ago, up last year. Sales of existing
from a 5.5 percent pace homes rose 6.5 percent
in October, according to a over the past year to 5.26
Tuesday report. million, according to the
Home values nationwide National Association of
have nearly recovered Realtors. More Americans
from their July 2006 peak, have been able to pur-
as the real estate market chase homes as employ-
has slowly recovered from ers have added 2.7 million
the housing bust that trig- jobs and borrowing costs
gered the Great Recession. remain low. q