CHRISTOPHER S. RUGABER
AP Economics Writer
WASHINGTON (AP) -- Even with automatic spending cuts looming, the outlook for the U.S. economy brightened a bit Tuesday after reports showed that Americans are more confident and are buying more new homes.
Home prices are also rising steadily, and banks are lending more. Such improvements suggest that the economy is resilient enough to withstand the deep government cuts that will kick in Friday.
That's especially encouraging because uncertainty over the federal budget could persist for months.
"The stars are lining up for stronger private sector growth this year," said Craig Alexander, chief economist at TD Bank.
Sales of new homes jumped nearly 16 percent in January to their highest level in 4
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Doctors saved this boy's life with a medical first involving a printer.
A Philly bike courier takes his cat on cycling adventures. (Videos)
This cutie needs a new home. She's WTOP's Pet of the Week.
"Jenny from the Block" wants you to buy Verizon phones from her.