By Reuters
Sales of new single-family homes unexpectedly rose in September, pointing to sustained demand for housing even as data for the previous three months were revised with lower figures.
Other reports suggested a stronger pickup in economic growth in the third quarter than is currently anticipated. The goods trade deficit narrowed sharply, while wholesale and retail inventories increased in September.
“A lot of the pieces of the puzzle have come back together in a positive direction, with a pickup in the export of goods to the rest of the world and new-home sales,” said Chris Rupkey, chief economist at MUFG Union Bank in New York.
