NEW YORK, Dec. 23 (Xinhua) -- Wall Street erased early gains Tuesday, as November existing home sale prices and new home sales dropped to multi-year lows offset a report on the gross domestic product meeting expectations.
The U.S. Commerce Department said third-quarter gross domestic product fell at an annual rate of 0.5 percent, in line with analysts' expectations and matching the government's estimate of a month ago. The data eased concern the recession was deepening.
However, the U.S. National Association of Realtors posted that sales prices for existing U.S. homes fell the most on record in November. And another report from the Commerce Department showed that new home sales fell 2.9 percent last month to a 17-year low.
The Dow Jones fell 6.93 to 8,512.84. Broader indexes were mixed. The Standard
Posts
No comments:
Post a Comment