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.
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. (more)
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