Economic reports signal modest growth ahead

The economic recovery seems on track for slow but steady gains after new reports Tuesday showed growth in manufacturing activity, construction spending and contracts to buy homes.

The batch of new economic data lifted spirits on Wall Street. But analysts cautioned that the economy won't come roaring back from the worst recession in seven decades. Some say the rebound's modest growth could falter next year as unemployment keeps rising, according to a Dec. 1 AP report.

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