Two national measures of economic health showed up today looking better than expected.
- Sales of new single-family houses in February 2009 came in at an estimated 337,000, according to the U.S. Census Bureau and Department of Housing and Urban Development. That's nearly five percent better than January and better than the 300,000 expected by the market.
- Durable goods orders showed surprising strength in February, up 3.4 percent. Today's increase came after six consecutive monthly decreases, including a 7.3 percent January decrease, according to the Census Bureau.
The factory orders numbers offer some definite hope that the national economy is bottoming out. The markets had expected to see yet another decline today.
Not saying things are going to swing around dramatically. But here's some evidence that the national economy may be bottoming out. Given the slide we've been on, that's something.
Tell us what you're seeing in your local economy, especially if think you're seeing signs of a turnaround.