Rise in new home sales add to evidence of recovery

US - The US economy received more signals on Wednesday that a recovery was under way, but the latest reports fuelled speculation about the strength and speed the recovery might display.

Sales of new homes in the US rose in February, indicating the housing sector remained firm, with low mortgage rates continuing to attract buyers. However, the sales increase was smaller than expected.

New single-family homes sales rose 5.3 per cent to a seasonally adjusted annual rate of 875,000 last month,

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