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U.S. new home sales surge 9.6% in January to 468,000

Published 02/26/2014, 10:03 AM
Updated 02/26/2014, 10:03 AM
U.S. new home sales surge 9.6% to 468,000 in January

Investing.com - U.S. new home sales rose unexpectedly in January, boosting optimism over the U.S. economic outlook, official data showed on Wednesday.

In a report, the U.S. Census Bureau said new home sales surged by 9.6% to a seasonally adjusted 468,000 units last month, compared to expectations for a decline of 1% to 400,000.

New home sales in December were revised up to 427,000 units from a previously reported 414,000 units.

Following the release of the data, the U.S. dollar added to gains against the euro, with EUR/USD shedding 0.54% to trade at 1.3670, compared to 1.3680 ahead of the data.

Meanwhile, U.S. stock markets were modestly higher after the open. The Dow Jones Industrial Average rose 0.1%, the S&P 500 index inched up 0.05%, while the Nasdaq Composite index added 0.25%.

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