Thu, May 30, 2013 - Page 15 News List

Economic pickup gives US confidence a welcome boost

ON THE UP?Investors are celebrating buoyant reports on consumer confidence and housing prices, which suggest that US growth could accelerate this year

AP, WASHINGTON

Many economists think growth is slowing slightly in the current quarter to an annual rate between 2 percent and 2.5 percent. However, plenty of analysts say growth should strengthen in the second half of the year, boosted by the gains in housing and employment.

One potential obstacle to further economic gains is that workers’ pay is rising only modestly. Without faster growth in pay, some consumers may be reluctant to keep spending more.

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