US economy continues to show signs of recovery

Signs of recovery in the US economy have been underlined with news that home sales are running at a three-year high and that a confidence index rose.
According to the National Association of Realtors sales of existing homes in February were at their highest annual rate since November 2009.
It said home sales had gained 0.8% since January to reach an annual pace of 4.98 million units, with the rise all coming from sales of apartments and condominiums.
Sales of family homes fell slightly.
Meanwhile, the Conference Board index of economic indicators rose 0.5%.
On Wednesday, the Federal Reserve said the economy had improved "moderately", but warned about high unemployment.


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