U.S. Economy: Existing Home Sales, Leading Index Rise

Sales of U.S. previously owned homes climbed from a record low in August and a gauge of the outlook for the economy increased, confirming the Federal Reserve’s forecast for a “modest” pace of expansion.

Purchases of existing houses climbed to a 4.13 million annual pace, the second-lowest on record, the National Association of Realtors said today in Washington. The New York-based Conference Board said its index of leading economic indicators rose 0.3 percent, exceeding forecasts.