US economy gets a lift from consumers


November 28, 2012 at 12:00a.m.

US economy gets a lift from consumers

washington

American consumers are growing more confident about the job market, companies are ordering more equipment and home prices are rising in most major cities.

The latest batch of government data suggests that the economy is improving just as the holiday shopping season begins. The only threat is a package of huge spending cuts and tax increases that will kick in unless Congress strikes a budget deal by year’s end.

Rising home values, more hiring and lower gas prices pushed consumer confidence in November to the highest level in nearly five years. And steady consumer spending appears to have encouraged businesses to invest more in October after pulling back over the summer. Those trends could boost economic growth slightly in the final three months of the year.

Associated Press

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .66, 25.20 —.23

Avalon Holdings,3.83.08

Clear Channel, .73 70.70 —.14

Cortland Bancorp, 10.03—.33

Farmers Nat., .126.05 —.03

First Energy, 2.20, 41.97.20

FirstMerit Corp., .64,14.00 —.03

First Niles Financial, .32,6.75.00

First Place Fin., .0131—.01

FNB Corp., .48,10.94—.06

General Motors,25.01—.22

General Electric, .68,20.87—.19

Motors Liquidation, .0422.00

Huntington Bank, .16, 6.17—.13

JP Morgan Chase, 1.20,40.75—.13

Key Corp, .20,8.23—.25

LaFarge, 14.04 —.14

Macy’s, .80, 39.63—.23

Parker Hannifin, 1.64, 81.07—.34

PNC, 1.60,55.03—.52

RTI Intl. Metals,24.31—.06

Simon Prop. Grp.,4.40,151.02—1.13

Stoneridge 4.95 .05

United Community Fin. 2.98—.07

Selected prices at 4 p.m. Tuesday. Provided by Stifel Nicolaus. Not to be construed as an offer or recommendation to buy or sell any security.