WELL, IT'S SOMETHING - AT 4:53 P.M. ET: 

WASHINGTON (AP) - Housing construction posted a surprisingly large increase in February, bolstered by strength in all parts of the country except the West.

The Commerce Department reported Tuesday that construction of new homes and apartments jumped 22.2 percent in February compared with January, pushing total activity to a seasonally adjusted annual rate of 583,000 units.

While the surge in housing construction was far better than the continued decline economists had expected, experts viewed the rebound as a temporary gain given all the problems the housing industry still faces.

COMMENT:  There's actually been some good economic news in the last week or so.  We have to be careful.  One month doesn't make a trend, but it's better than nothin'.

March 17, 2009