Sales, U.s. Economy | featured news

Sales of new homes fell in February after climbing to the highest level in more than four years in January. Sales of new homes dropped to a seasonally adjusted annual rate of 411,000 in February, the Commerce Department reported Tuesday. That is a decline of 4.6 percent from the January level of 431,000, which had been the strongest sales pace since September 2008.

U.S. retailers are posting moderate sales for February, dealing with mixed signals like payroll-tax increases and later income-tax refunds that were countered by a rousing stock market and better housing reports.

The US economy registers surprisingly strong consumer confidence and new home sales data, suggesting the recovery is gathering steam.

Many top retailers reported strong January sales on Thursday after offering merchandise and deals that drew in shoppers in spite of higher payroll taxes.

An auto industry research firm says an improving economy and a host of new models should push U.S. auto sales above 15 million this year.

U.S. retail sales rose in September as Americans bought more cars and gasoline, while a gauge of consumer spending pointed to stronger-than-expected economic growth in the third quarter.

Retail sales in the U.S. increased in August by the most in six months, boosted by demand for automobiles along with higher gasoline prices that left consumers with less to spend on other goods. The 0.9 percent gain followed a revised 0.6 percent advance in July that was smaller than initially reported, the Commerce Department said today in Washington. The median forecast of 84 economists surveyed by Bloomberg called for an increase of 0.8 percent. Sales slowed at department stores, apparel retailers and electronics outlets.