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Cosumer Confidence on Upswing : Swingers Discussion 209638
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TOPIC: Cosumer Confidence on Upswing
Created by: Nkenswing
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Watching Willard Mitt Romney attacking and attempting to discredit President Barak Obama will give Americans a chance to see how arrogant and self-important Willard in his pretentious world of political supremacy.

Treasure Is FL
 
 
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WASHINGTON -- The U.S. economy is looking more resilient, thanks in part to encouraging signs for the two most expensive purchases most Americans make: cars and homes.

Cheap loans and a bounty of fuel-efficient models enticed people to buy new vehicles at a brisk pace last month. And the nation enjoyed another year-over-year surge in home prices in August — a sign that the housing industry is making a sustained comeback.

Both trends reflect rising confidence in the economy. They show that more families are replacing aging cars, more homeowners are deciding to sell and more would-be buyers are concluding that a home is a good investment.

Two surveys last week also reported improving consumer confidence.

The apparent progress could benefit President Barack Obama, who faces off with Mitt Romney on Wednesday in an economy-focused debate just five week ahead of the election.

Despite the brightening auto and housing industries, the broader American economy is still struggling. It grew at a meager 1.3 percent annual rate in the April-June quarter. Most economists foresee little strengthening the rest of the year.

Hiring remains too sluggish to reduce high unemployment, which is at 8.1 percent. The manufacturing sector is struggling to grow consistently. Workers' pay is lagging inflation. A dismal European economy has cut demand for U.S. exports.

And the economy remains at risk of falling off a "fiscal cliff" early next year. That's when tax increases and deep spending cuts take effect unless Congress reaches a budget deal. If those measures do take effect, the economy could fall into recession.

Yet many Americans appear to be looking past the economy's troubles.

Surveys by the private Conference Board and the University of Michigan show that while consumers are anxious about current conditions, they're more optimistic about the future.

Pittsburgh PA
 
 
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TOPIC: Cosumer Confidence on Upswing