POSTED: Wednesday, August 26, 2009 - 2:27pm
UPDATED: Wednesday, February 17, 2010 - 2:24pm
New signs of improving economy...
There are more signs the U.S. economy may be on the mend.
New Commerce Department numbers show new home sales and orders for durable good are both up.
Sales of new homes were up 9.6 percent in July, the the fourth monthly increase in a row.
Orders on durable goods rose last month by close to five percent, the largest amount in two years.
The jump was fueled mostly by sales of airplanes, along with the reopening of some Chrysler and General Motors assembly plants.
Most economists are enthusiastic, but some are concerned the good news may be temporary.
They cite the the government's Cash for Clunkers rebate program that stimulated the auto industry and the first time home buyers federal tax credit that expires the end of November as one time effects.
Coming out of the worst recession in decades, even a slight rebound is worth celebrating, but the beer will cost more.
Prices are up to compensate for lower sales and higher commodity costs.
Another big concern is rising unemployment.
Most believe the recession won't truly end until businesses are willing to rehire employees and raises salaries.