Recession

SALT LAKE CITY -- The Salt Lake and Provo metropolitan areas have been added to a national list tracking housing markets that are on the upswing.

DENVER - For the 24th straight month, the overall index for the Mountain States region, a leading economic indicator for the three-state area of Colorado, Utah and Wyoming, advanced above growth neutral 50.0. The national index has risen above growth neutral for 26 consecutive months (www.ism.ws) but has remained lower than the regional reading. The gap between the results of the two surveys has widened, primarily as a result of Mountain States' growth tied to the region's large energy sector, exports and agriculture.

LAYTON -- If Mother Nature ever decides to cooperate, this could be a great year for building homes in Layton.

Since reaching "rock bottom" single-family house permit numbers in 2008, including a month where no permits were issued, Layton has continued to issue more permits each year.

City officials expect that number to increase again this year.

The news says the housing market stinks right now, but several homes in my neighborhood have sold quickly.

I thought the one on the corner facing Ogden's busy 36th Street would take awhile. It was snapped up within a month. The $96,000 price probably had something to do with it. The place needs work, but that's how bargains are made. The new owner seems nice.

A home a block over that went up for sale in March has "sale pending" on the Realtor's sign. A third around the corner sold in two weeks flat.

WASHINGTON -- The world economic recovery is set to continue over the next two years and will not be derailed by the earthquake in Japan or the surge in commodity prices, according to the results of the latest global checkup released by the International Monetary Fund on Monday.

The world economy is set to grow at a 4.4 percent rate in 2011, down slightly from the 5 percent rate in 2010. Growth will accelerate slightly to a 4.5 percent rate in 2012.

In the U.S., growth will stay at 2.8 percent this year before accelerating to 2.9 percent next year.

WASHINGTON -- Despite numerous positive economic indicators, President Barack Obama ordered a probe into potential gasoline price-gouging on Friday and said the government is watching for manipulation in oil markets.

Speaking at a White House news conference, Obama said he's asked his attorney general and U.S. government agencies to work with state attorneys general to monitor for gasoline-price gouging, "to make sure that nobody is taking advantage of working families at the pump."

Shoppers snapped up new cars, clothing and electronics in February, pushing retail sales up for the eighth straight month.

WASHINGTON -- The House passed emergency short-term legislation Tuesday to cut federal spending by $4 billion and avert a government shutdown. Senate Democrats agreed to follow suit, handing Republicans an early victory in their drive to rein in government.

The bill that cleared the House on a bipartisan vote of 335-91 eliminates the threat of a shutdown on March 4, when existing funding authority expires. At the same time, it creates a compressed two-week timeframe for the White House and lawmakers to engage in what looms as a highly contentious negotiation on a follow-up bill to set spending levels through the Sept. 30 end of the fiscal year.

The Senate set a vote on the short-term measure for Wednesday morning, the final step before it goes to President Barack Obama for his signature. "We'll pass this and then look at funding the government on a long-term basis," said Majority Leader Harry Reid, D-Nev.