Economy, Good News | featured news

Latest signs spur caution optimism. Stock market rising; Americans paying off debt.

The National Association of Realtors said the number of people who signed contracts to buy homes rose in November. The index of sales agreements for previously occupied homes increased by 3.

The number of people applying for unemployment benefits fell sharply last week, with applications hitting the lowest level in two and a half years.

New single-family home sales rose in November but to a lower- than- expected rate , a government report showed on Thursday, highlighting the weakness in the housing market even as the broader economic recovery gains momentum.

New claims for jobless benefits dipped last week and consumer spending increased in November for a fifth straight month, reinforcing views of a solid economic growth pace in the fourth quarter.

Sales of previously owned U.S. homes rose in November, offering the latest sign the economy was ending the year on a more solid footing after a sluggish third-quarter performance.

The U.S. economy is gathering steam as the year draws to a close, according to a private industry group's index of economic indicators published on Friday.

Retail sales were solidly higher in November, the government reported Tuesday, fueled in part by deep discounting on holiday merchandise.

U.S. online retail sales through the first 40 days of the 2010 holiday shopping season are up 12% from a year ago, according to a Sunday update from ComScore.

The results released reinforced reports over the weekend that consumers shopped, spent and were buying non-necessities again.