U.S. consumer confidence, housing data highlight economy’s strength

U.S. consumer confidence rebounded in April and new home sales increased more than expected in March, pointing to underlying strength in the economy despite signs that growth slowed in the first quarter. Other data on Tuesday also showed house prices increasing solidly in February. Strong consumer confidence and rising house prices should underpin consumer spending, which appears to have braked sharply at the start of the year.

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Source: Reuters