Economic reports may calm fears

Inflation slowed from its summertime blip in September, housing starts rebounded, and the Federal Reserve reported signs of modest economic growth, suggesting that fears of a double-dip U.S. recession may have been overblown.
Consumer prices rose 0.3 percent, driven by cost increases for food and energy, while builders broke ground on new homes at an annual pace of 658,000 houses and apartments, the U.S. government said in two separate reports. Each was better than economists’ forecasts. The Fed’s “beige book” survey of business conditions said companies reported tourism and auto sales are leading growth in much of the nation.

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