Pending home sales rose by 5.2% as compared to the previous month, according to a report by National Association of Realtors.  This comes as a ray of hope for home sales numbers that have been dwindling in the recent past.

Apart from the rise in home sales numbers there is some further good news for the economy as it was reported that retail sales rose by 3.3% last month as compared to the previous year. The recent news has promised to help the economy regain some stability for the time being.

Though, unemployment seems to be reaching epidemic proportions, unemployment rate rose continuously for four months, a first for America. The current employment rate, at 9.5% is expected to rise to 9.6 % by analysts’ predictions in the Government’s monthly report, which would be out by Friday.

In a further development, demand for machinery and computers came down. Whereas orders at factories in the U.S. rose by a minute 0.1%, which clearly states that Companies are still doubtful to invest money on equipment.

Though, the real surprise which came still remains to be the boost in retail sales at U.S. stores. According to Thomson Reuters, in a survey of 27 retailers, 2/3rd of the stores reported better sales than expected.