US new home sales at 7-month high

  • News Digest
WASHINGTON

Mar 7, 2019-

Sales of new US single-family homes rose to a seven-month high in December, but November’s outsized jump was revised lower, pointing to continued weakness in the housing market. While other data on Tuesday showed a rebound in growth in the vast services sector in February amid a surge in new orders, concerns about import tariffs, capacity constraints and labor shortages lingered. The trade dispute between the United States and China is among the factors that analysts say will contribute to slower economic growth this year. Growth is softening as the stimulus from a $1.5 trillion tax cut package and increased government spending ebbs. The economy’s outlook is also being clouded by slowing global growth and uncertainty over Britain’s exit from the European Union. (REUTERS)

Published: 07-03-2019 12:23

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