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Ricardo Rossello outlined those and other planned changes Tuesday during his first state of the union address since becoming governor last month. He says he will not lay off public employees or impose new taxes or tax increases, but warns that the U.S. territory will be transformed in upcoming years. The federal control board is pushing Puerto Rico's government to increase revenue by $1.5 billion and cut spending by roughly $3 billion in the next two years, a time frame that Rossello has said is unrealistic. CONSUMER CONFIDENCE US consumer confidence rises to highest level since 2001 WASHINGTON (AP) U.S. consumer confidence has climbed to the highest level in more than 15 years, good news for the economy. The Conference Board said Tuesday that its consumer confidence index rose to 114.8 in February from 111.6 in January. It was the highest since July 2001.The index measures both consumers' assessment of current conditions and their expectations for the future, and both improved in February. Americans have been in an optimistic frame of mind in recent weeks amid speculation the Trump administration will work with Congress to get a tax cut and a repeal of a much-debated health care law. AUSTRALIA ECONOMY Australia avoids recession with growth in December quarter CANBERRA, Australia (AP) Australia has reported a faster-than-expected 1.1 percent expansion in the final three months of last year, as resurgent coal and iron ore prices helped the country avoid recession. Had the economy shrunk for the December quarter in Australian Bureau of Statistics figures released on Wednesday, Australia would be in its first technical recession since 1991.