Summary Box: Momentum in US hiring, housing slows

AP News

4/19/2012 4:06:58 PM - AP News

NO ACCELERATION: Momentum in U.S. hiring and home sales appears to be slowing, according to fresh data. A possible weakening in two critical elements of the economy suggests growth could stay modest this year.

UNEMPLOYMENT BENEFITS: The average number of people seeking unemployment benefits over the past month rose to 374,750, a three-month high. The increase follows a report earlier this month that hiring weakened in March.

HOME SALES: Sales of previously owned homes fell 2.6 percent to an annual rate of 4.48 million. Mild weather boosted sales in the previous two months, essentially stealing sales from March.