Could it be that the U.S. economy is bouncing back from recent doldrums?

Three reports from the federal government indicate that could be the case.

Consumer confidence increased in June for the second month in a row; orders for durable goods — items expected to last at least three years — jumped by 2.9 percent in May, following a steep 5.5 percent drop in April; and new-home sales rose 0.8 percent in May to a seasonally adjusted annual rate of 928,000, following a revised 4.5 percent decline the month before.

Why are these reports so important? Consumer spending represents two-thirds of all economic activity. The reports released Tuesday seem to reflect a renewed sense of optimism. People are buying items that go beyond the basic necessities of food and clothing: cars, computers, appliances and houses.

Low interest rates are key to this surge, and we’re so thankful for the delicate handling of rates by the Federal Reserve Board.

The economy is still losing jobs, but the South is fortunate not to be as dependent as other areas of the country on high-tech and Internet-related jobs, which have been hit hard.

Georgia has a good mix of businesses, including agriculture, light manufacturing, retail-service and older industries. Locally, of course, we’re fortunate to have the economic mainstays of Valdosta State University and Moody Air Force Base.

These reports and the anticipated boosts to household spending from the tax refunds later this year could be the impetus to a complete turnaround in the economy.