Economy Brightening With Initial U.S. Data Belying Grim Investor

The U.S. is starting the year on a positive note, a sign that investors may be too gloomy.

Payrolls rose 200,000 in December, double the gain in November. A weekly measure of consumer confidence ended 2011 at a five-month high. And manufacturers reported their business in December grew at the fastest pace in six months. The combination indicates the world’s largest economy has enough staying power to withstand a recession in Europe and a slowdown in China.