After months of handwringing about the possible crash-landing of the housing mar...
NEW YORK - After months of handwringing about the possible crash-landing of the housing market, investors awaiting quarterly earnings from No. 3 U.S. homebuilder PulteGroup Inc this week were ready for the worst.
Marshall’s renewed confidence was backed up by government data that same day showing new home sales rose nearly 15% in the first three months of the year, the strongest quarter in six years.Across industries from soda-pop to bulldozers and software to social media, companies are delivering results that suggest the U.S. economy might not be all that bad.
Indeed, in the first days of 2019 the odds looked stacked against the U.S. economy, with a partial government shutdown, fallout from tariffs and trade uncertainty, a strong dollar, frigid weather that kept consumers indoors, wild-swinging stock markets late last year and a diminishing boost from tax cuts.
Profits at S&P 500 companies, seen declining for the first time in three years just a month ago, now appear on course for another quarter of growth as first-quarter results pour in, according to I/B/E/S data from Refinitiv. Consumers have also weathered the storm. A competitive job market helped lift a key benchmark of private-sector wages 3.2% over the last year, the strongest in a decade, Labor Department data shows. That helped keep demand robust for consumer goods and services, and companies in those areas posted better revenues in the first quarter.Any collapse in U.S.
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