US builders upbeat, Manufacturing shows life.

http://www.reuters.com/article/economicNews/idUSN1737682120090817


"More signs the U.S. economy was exiting its worst recession in 70 years emerged on Monday with reports showing confidence rising among homebuilders, factory activity perking up in New York state and credit card defaults slowing.

The data, however, failed to stem worries on Wall Street about weak U.S. consumer spending and the staying power of any economic recovery, as major indexes closed sharply lower. For full market report, see <.N>

The National Association of Home Builders and Wells Fargo said their Housing Market Index edged up one point to 18 in August -- the highest level since June 2008 and the second consecutive monthly gain.

A separate report from the New York Federal Reserve showed activity at New York state factories grew for the first time since April 2008, suggesting manufacturers could lead the economy out of its worst downturn since the Great Depression.

"The jump in the Empire State manufacturing index in August back into positive territory supports other evidence that the recession ended around the middle of the year. But the strength of the recovery remains in question," said Paul Dales, U.S. economist at Capital Economics in Toronto.

Industry data showing U.S. credit card defaults stabilized in July suggested consumers are in better financial shape than feared, even though defaults and delinquencies rose at big card issuer Capital One Financial Corp (COF.N). For details, see "



Some good news but I wonder if the new Credit Card Bill that was passed and has gone into effect will affect the credit card market. I have heard people saying that they have received notices that they will not get a late fee but then are informed that their interest rate is going to go up. I am hoping we get good news in August and September. Hopefully more signs of economic life will be evident.

Thank you, Kdillard.

I work in a peripheral industry and we have been hanging on by our fingertips.

I'm glad to hear manufacturing is up but I don't understand the homebuilding sector. There are apparently hundreds of thousands of houses in foreclosure --- we don't need new housing stock.