The rate of decline in US house prices slowed in February and consumer confidence among Americans rose by the greatest amount since 2005 during April, in early signs the economic recession might just be slowly beginning to thaw.

The Standard & Poors/ Case-Shiller housing index – which measures house prices in 20 major urban areas across America – revealed that house prices were 18.6% lower than in February 2008, but this was the first time in 16 months that the annual decline did not hit a new record.

Financial Times, New York Times