Retail sales, home contracts rise modestly

Americans have not lost their will to spend, according to a modest and surprising bump in retail sales last month and the number of contracts signed by home buyers in July.

Retailers reported that sales at stores open more than a year rose 3.3 percent last month compared with a year earlier.

And after recent dismal numbers on home sales, a glimmer of hope in the real estate market emerged Thursday when the National Association of Realtors reported that pending home sales in July were up 5.2 percent from the previous month, well above expectations.

Read Full Article from Washington Post

- Posted: 2010-09-02 21:20:23

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