Economic reports mixed

Thursday, Feb. 26, 2004 | 9:22 a.m.

WASHINGTON -- U.S. sales of new houses fell in January, a government report showed today. The 1.106 million-unit annual pace still exceeded expectations, as declining interest rates buoyed demand.

Sales fell 1.7 percent last month, the Commerce Department reported in Washington.

Separately, U.S. orders for durable goods excluding aircraft and automobiles in January rose the most in three months, propelled by corporate investment in equipment that is helping lift economic growth.

Bookings for items made to last at least three years rose 2 percent after a 1.7 percent rise, when transportation equipment is stripped out, the Commerce Department said.

A separate report showed initial jobless claims increased by 6,000 last week to 350,000, matching this year's average.

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