Many agree that the US economy is now recovering

The Institute of Supply Management (ISM) said the sector, which accounts for 80% of the US economy, increased and the jobs situation improved.
Separate data showed that the US jobs market strengthened last month for the first time since January 2008.
The data boosted US markets with the Dow Jones index rising 1.2%. The Nasdaq and the S&P 500 also saw gains.
Many agree that the US economy is now recovering, but there are mixed signals about the strength of the upturn.
Markets boost
The service index rose to 50.9 last month, from 48.4 in the previous month, the first increase since August 2008, ISM said.
Any figure above 50 indicates growth, while a reading below 50 signals a contraction in the sector. Analysts had expected a reading of exactly 50.
The ISM also said service-sector employment contracted at a slower pace than in August.
The data gave investors confidence, and the Dow closed 112 points higher at 9,599.75, while the Nasdaq rose 1% and the S&P 500 gained 1.5%.
European markets had also rallied earlier, with leading share indexes in London, Paris and Frankfurt all closing higher.
'Reluctant'
The data comes after the Labor Department said on Friday that the US economy lost 263,000 jobs in September, more than had been expected, taking the jobless rate to a fresh 26-year high.
Job creation tends to lag behind any recovery in the economy.
"Businesses are more reluctant than in the past to start the hiring process," said Bank of America economist Ethan Harris. "We won't likely see increased hiring until January."
The US Conference Board said its employment trends index edged up to 88.5 from an upwardly-revised 88.2 in August.
But the index is now down 15.6 percent from one year ago, it said.