US new home sales slip but consumer sentiment improves

US new home sales fell in January but the overall tone of Friday's economic data was positive. Reuters reports:

The Commerce Department said sales of new single-family homes slipped 0.9 percent last month to a seasonally adjusted 321,000-unit annual rate.

However data for October, November and December were revised to show a much higher sales pace than previously reported, giving the report a stronger tone and putting January's figure above economists' expectations...

The Thomson Reuters/University of Michigan's final index of consumer sentiment in February edged up to 75.3, the highest since February last year, from 75.0 in January.

In Europe, Germany and the UK confirmed earlier estimates that both their economies contracted 0.2 percent in the fourth quarter.

Meanwhile, Greece’s government has formally asked investors to exchange their holdings of government debt for new securities.