Friday, Oct. 25, 2002 | 9:58 a.m.
U.S. home sales surged last month, heading toward a record year, new statistics showed today. But orders for communications equipment, machinery and aircraft slumped, suggesting the economy is still struggling to regain momentum.
Existing single-family homes sold at a 5.4 million-unit annual rate in September, up 1.9 percent from August, the National Association of Realtors said. Sales of new homes rose 0.4 percent to a record 1.02 million rate, the Commerce Department said.
Orders for big-ticket durable goods dropped 5.9 percent to $167.6 billion, the lowest total since June, the Commerce Department also said.
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