-News from Monday 25 March to 26 March 2002
US
Reports Signal Economic Rebound
VOA
News 26
Mar 2002 15:25 UTC

Government reports
indicate the U.S. economy is emerging from recession as consumers feel more
confident and manufacturers fill more orders.
The Conference Board,
which is a private business research group, says U.S. consumer confidence
surged in March to its highest level since August. Analysts say consumer
spending, which makes up a majority of U.S. economic output and typically rises
with confidence, may continue to power the economy in the months
ahead.
A separate report
shows the manufacturing sector, long beaten down by the recession last year, is
also growing stronger. The Commerce Department says orders for so-called
durable goods, which are expensive, long-lasting items, rose more than expected
in February.
Earlier Tuesday in
Europe, a new survey by the Munich-based business research group Ifo showed
confidence among western German business executives climbed higher this month
than at any time during the past year. A separate survey showed Italian
executives were the most optimistic in the past seven
months.
Companies say a
recovery across Europe is likely to be fueled by stronger demand in the United
States. The European Commission estimates Europe's economy, which shrank in the
final three months of last year, is likely to grow again in the second quarter,
after an expansion in the first.
Some information
for this report provided by Bloomberg.
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