A report released by the Commerce Department on Thursday showed a much steeper-than-expected drop in new home sales in the U.S. in the month of January.
The Commerce Department said new home sales plunged by 17.6 percent to an annual rate of 587,000 in January after tumbling by 6.8 percent to a revised rate of 712,000 in December.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.