From staff and wire reports



VALDOSTA — The news from Washington is that consumer confidence is on the rise across the nation, spurring spending on big-ticket items and housing, but that isn’t news to local merchants.

“May was the third best month we’ve ever had, and June is on target to at least equal, if not beat it,” said Steve Everett, vice president and general manager of Langdale Ford. “People buy cars when they feel good, and they’re feeling better all the time.”

A trio of government reports released Tuesday showed that consumer confidence climbed to the highest level of the year, demand for big-ticket goods jumped and new-home sales were up.

These reports came as the Federal Reserve’s Open Market Committee, which has reduced interest rates five times this year, began a two-day session that many analysts expect to result in a sixth rate cut today.

The low interest rates have fueled local home sales and refinancing, according to David Parker, branch manager for Wells Fargo in Valdosta. “We have had a two-fold increase over last year that started the first of the year and has remained steady.”