A report released by the Commerce Department on Wednesday showed new home sales in the U.S. surged much more than expected to a nine-month high in the month of December.The Commerce Department said new home sales soared by 11.9 percent to an annual rate of 811,000 in December after spiking by 11.7 percent to a revised rate of 725,000 in November.Economists had expected new home sales to jump by 2....
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.