Forex News and Rumors – Afternoon Update

US Pending Home Sales Posts Surprise Increase

The National Association of Realtors released its seasonally-adjusted index of pending sales for previously owned homes which indicated an increase of 6.3 percent for the month of December to 87.7. More

GM Sales Fall by 49% – Ford, Toyota, and Honda Also Down

Sales of General Motors vehicles in the US fell 49 percent in January compared to Ford’s 40 percent decrease. Toyota and Honda recorded sales reductions of 32 percent and 28 percent respectively. More

More Than 19 Million Empty Homes in US

With rising foreclosures and emptying rental units, a record 19 million homes remained unoccupied in the US throughout 2008. The vacancy rate rose to 2.9 percent in the final quarter of 2008 which is the highest since vacancy records were first kept starting in 1956. More

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