U.S. Small Business Confidence Back At Pre-Recession Levels

WASHINGTON – U.S. small business sentiment jumped to its highest level in 6-1/2 years in April, which should bolster hopes of an acceleration in economic activity in the second quarter.

The National Federation of Independent Business said on Tuesday its Small Business Optimism Index rose 1.8 points to 95.2 last month, the highest reading since October 2007, when the economy was on the cusp of its worst recession since the 1930s.

“April’s reading took the index to a post-recession high and a recovery high level,” the NFIB said in a statement.

It adds to data such as employment and surveys on the manufacturing and services industries that have shown the economy regaining steam early in the second quarter after growth braked abruptly in the first three months of the year.

Read more at http://www.philly.com/philly/business/small_business/US_small_business_confidence_back_at_pre-recession_levels.html#pVIe8UF3EDjeX4HO.99

US Manufacturing Grows At Fastest Pace In 2½ Years

WASHINGTON (AP) – U.S. manufacturing grew in November at the fastest pace in 2½ years as factories ramped up production, stepped up hiring and received orders at a healthy clip.

The Institute for Supply Management said Monday that its index of manufacturing activity rose to 57.3. That was up from 56.4 in October and was the highest since April 2011. A reading above 50 signals growth.

One component of the index, a measure of hiring, rose to its highest level in nearly 18 months. And a gauge of export orders reached its highest level in nearly two years. Overseas demand is benefiting from modest recoveries in Europe, Japan and China.

Manufacturing activity has now expanded for six straight months after hitting a rough patch in the spring. The steady gains suggest that growth is remaining healthy in the current October-December quarter.

Read more at http://www.philly.com/philly/business/20131202_ap_4978c48d3b504648b48b0acc2f267984.html#flx0Btf732s7obLS.99

Regional Housing Market Rebounds

Map of Pennsylvania highlighting Chester County (Photo credit: Wikipedia)

Prudential Fox and Roach Realtors’ most recent HomExpert market report showed positive signs in the housing market for Chester County and the Greater Philadelphia region.

“We’re seeing an increase in sales and median and average sale prices, and we’re seeing a reduction in inventory and a significant reduction in days-on-market,” Prudential Fox and Roach Senior Vice President of Marketing Steve Storti said, “So, we’re seeing a market that is significantly improving, and we hope it continues.”

In April, 517 homes sold in Chester County, with a median price of $287,000.  The number sold was 15 percent higher than April 2012, and 64 percent more than April 2011.

In the first quarter of 2013, Greater Philadelphia saw a 7.8 percent home sales increase over the same quarter a year ago.  Chester County had 1,027 existing home sales during the quarter, up 6.8 percent over 2012.

Read more:  http://www.pottsmerc.com/article/20130611/FINANCE01/130619868/regional-housing-market-rebounds#full_story