The Commerce Department data also showed business investment climbed at the fastest rate since 1997 as corporate profits rose.
For all the concern about another recession, the outlook for America’s economy is looking brighter in the bond market, where investors are accepting the lowest yields since 2004 to lend companies money.
The global semiconductor market will post 2010 revenues of $310.3 billion, up 35.1% from a year ago, the market research firm iSuppli asserts. That’s an increase from its previous forecast, which called for 30.9% growth.
Stocks rallied, sending the MSCI World Index to an 11-week high, oil surged above $81 a barrel and Treasuries fell following better-than-estimated earnings and growth in U.S. manufacturing and construction spending.