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Dare we celebrate economic news?
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Published: August 13, 2009
Three bits of economic news may lift the veil of gloom a bit, especially for some in the Tampa area. Based on that and other data in recent weeks, analysts and the stock market have responded positively, with the Dow Jones industrial average up 120 points Wednesday.
The Fed: The Federal Reserve said it sees the economy leveling and it will slow the pace of an emergency rescue program.
Home Sales: Sales of existing homes shot up 24 percent in the Tampa-St. Petersburg-Clearwater metro area in the second quarter as buyers took advantage of government incentives and prices that have been deeply cut.
Foreclosures: July's foreclosure activity receded somewhat in Hillsborough County, down almost 6 percent from a year ago. The rate of filings, however, is four times what it was in 2006, before the real estate crisis began.
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