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US housing, jobs signal firmer recovery

01-21-2011 14:05 BJT

Home resales in US jumped more than expected in December, and new jobless claims last week posted their biggest decline in nearly a year. The fresh data shows two key economic trouble spots in the U.S. are on the mend.

Existing home sales soared 12.3 percent to an annual rate of 5.28 million units as sellers cut prices. Meanwhile, new jobless claims retreated to 404 thousand last week, also the biggest drop in nearly a year. That optimism is supported by other reports, with mid-Atlantic factory activity holding up well and an index of leading indicators surpassing economists' forecasts.

The raft of positive data on Thursday has renewed hope that 2011 growth will indeed surpass last year's performance.

Editor:Xiong Qu |Source: CNTV.CN

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