Triangle Business Today

Economic signs look good

Posted February 28, 2012

The Dow closed above 13,000 today for the first time since May 2008.

The markets continuing their momentum run, shrugging off some less than positive Durable Goods and Home Price data from earlier today. However, Consumer Confidence was up, jumping to its highest level in a year. The February reading of 70.8 was significantly higher than the 61.5 number we saw in January.

Foot traffic in the Triangle continues to be stong for housing, and signed contracts are picking up steam as we head into the last month of the first quarter. Historically low interest rates are also helping to drive traffic.

Governor Purdue today nominated Ray Grace as the new Commissioner of Banks for North Carolina. Mr. Grace will serve in his new position through March 31, 2015. Grace replaces Joe Smith, who was chosen to oversee the National Foreclosure Settlment Fund.


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About this Blog:

Jeremy Salemson, CEO of Corporate Investors Mortgage Group, blogs about economic trends and data and their impact on Triangle business. Each week, he interviews a Triangle-area business leader for a personal look at the local economy.