Economic Recovery Gaining Traction and Durability

[Frodo]

Economy might be gaining traction, new data suggest

By Zachary A. Goldfarb and Michael A. Fletcher,
Thursday, August 9, 8:34 PM

After a spring and summer of weak economic indicators, a flurry of fresh data suggest key sectors of the economy might be gaining traction, just as the battle for the White House enters the final round.

The long-moribund housing market has bustled to life, with prices and new-home construction rising in recent weeks. Hiring, so weak earlier this year, picked up last month. And on Thursday, the government reported an acceleration of a downward trend in the number of people seeking unemployment insurance, as well as a sharp improvement in U.S. exports.

Together, the signs point to an improving economy, a potentially important shift for President Obama’s re-election campaign.