"The nation's economy displayed resilience in September despite two devastating hurricanes and surging energy costs, economic reports released yesterday show," reports today's New York Times. (Registration required. No fee for most items.)

"New-home construction picked up speed in September and permits for new building jumped, the Commerce Department reported yesterday, indicating that rising interest rates and concerns about inflation have not yet slowed the new housing market. A separate report said mortgage applications for home purchases rose last week.

"And a Federal Reserve survey of the national economy, known as the beige book, said that most of the country was experiencing "moderate or gradual" economic growth because of improved hiring, higher wages and increased growth in several industries."